How Long Does The Debtor Have To File A Plan Of Reorganization?
The debtor has the exclusive right to file a plan during the first 120 days of a Chapter 11 bankruptcy case. The 120-day exclusivity period may be extended by the court, but the period cannot be extended past a date that is 18 months after the bankruptcy petition date. Once the debtors exclusivity period expires, any creditor or other party in interest may file a plan. If exclusivity is terminated, the dealers can propose their own plan for the reorganization or sale of the debtor.
