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Debt of an Ineligible Affiliate Is Included in the $7.5 Million Cap for Subchapter V

Although ineligible on its own to be a debtor under subchapter V of chapter 11, the debt of the ineligible company is nonetheless aggregated with the debts of its affiliates to determine whether affiliates are eligible for subchapter V.

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Opinion Link

Case Details

Case Citation

In re 305 Petroleum Inc., 20-11593 (Bankr. N.D. Miss. Oct. 27, 2020)

Case Name

In re 305 Petroleum Inc.

Case Type

Business
Bankruptcy Tags