Chapter 22 Is Not Necessarily a Bad Thing

By: Patrick Walsh Originally written for and published by ABL Advisor, September 2019 The deluge of Chapter 22s, in 2019, particularly in the retail sector, seemed to suggest a check on feasibility is missing. The feasibility requirement in the U.S. Bankruptcy Code requires a finding from the Bankruptcy Court. The requirement reads as, “confirmation of a plan is not likely to be followed by the liquidation, or the need for further…