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Peter S. Partee, a partner at Hunton & Williams, and Scott H. Bernstein, an associate at the firm, write: Ordinarily, a confirmed plan of reorganization provides that the reorganized debtor's operations will now be financed by its revenues. However, during this recession a number of reorganized companies have experienced financial difficulties after confirmation of their plans. The current environment provides a good opportunity to review the options that are available under the Bankruptcy Code for reorganized companies that become financially distressed after confirmation of their reorganization plans.
June 29, 2009 at 12:00 AM
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