The Bankruptcy Appellate Panel for the Ninth Circuit (BAP) clarified that a revesting provision in a confirmed chapter 13 plan does not prevent modification of the plan to capture increases in the debtor’s post-confirmation compensation. Accordingly, the BAP ruled that a Chapter 13 debtor may not retain a $3.8 million windfall from a stock buyout. …

Revesting Provision in a Chapter 13 Plan Will Not Shield That Postconfirmation $3.8 Million Stock Buyout Windfall From Creditors Read More »