What happens to funds recovered by the trustee after the final plan payment is made in a chapter 13 case? According to the U.S. Bankruptcy Court for the District of Iowa, absent a plan provision providing otherwise, those funds revert to the debtors.
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WILMINGTON, Del. – The State of Idaho’s Department of Finance has won approval for a court-appointed examiner in the closely watched bankruptcy proceedings of DBSI, Inc., an Idaho-based investment firm. Judge Peter Walsh of the U.S. Bankruptcy Court for the District of Delaware has given the examiner the authority to probe $2 billion in allegedly fraudulent securities transactions made by DBSI. The scheme involved more than 12,000 investors and 270 properties throughout the country.
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USA, Idaho, Insolvency & Restructuring, Litigation, White Collar Crime, Potter Anderson & Corroon LLP, Bankruptcy, Security (finance), Fraud, Limited liability partnership, Investment company, Power of attorney, Delaware Supreme Court, United States bankruptcy court, US District Court for District of Delaware
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