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Tipping point: plan clarification or plan modification? Third Circuit denies bankruptcy court’s use of its plan clarification powers to circumvent plan modification requirements of section 1127

In post-confirmation proceedings, bankruptcy courts maintain the ability to clarify a plan where silent or ambiguous, and interpret a plan to advance equitable considerations.  However, bankruptcy courts are not allowed to modify a plan outside the confines of section

USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy, Debtor, Class action, United States bankruptcy court, Third Circuit