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Latest revision as of 11:46, 17 June 2025

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Section 1106 of the Bankruptcy Code calls for the trustee to submit a plan "as soon as practicable" or, conversely, to file a report discussing why a strategy will not be submitted or to suggest that the case be converted to another chapter or dismissed.

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On request of a lender with a case secured by the single property realty and after notice and a hearing, the court will give relief from the automatic keep to the lender unless the debtor files a feasible plan of reconstruction or begins making interest settlements to the financial institution within 90 days from the day of the declaring of the case, or within 1 month of the court's determination that the situation is a solitary asset real estate situation.

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