/biz/ - Business & Finance

Anonymous Fri Mar 29 18:46:14 2024 No.58193643 [View]
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Now let's discuss what a discharge is.
>What is a discharge in bankruptcy? A bankruptcy discharge releases the debtor from personal liability for certain specified types of debts. In other words, the debtor is no longer legally required to pay any debts that are discharged.

However, there are certain requirements in order to get a discharge and they prove that chapter 11 is still going on.

>Confirmation of a plan of reorganization discharges any type of debtor – corporation, partnership, or individual – from most types of prepetition debts.

The key word is reorganization. In order to get a discharge there must be a plan of REORGANIZATION.

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/biz/ - Business & Finance

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