Mark E. Felger, left, and Simon E. Fraser, right, of Cozen O'Connor. Courtesy photos Del. Bankruptcy Court Discusses Whether It Can Amend Bankruptcy Petition to 'De-Designate' a Subchapter V Case
Following this decision, the ability of a party-in-interest to obtain an order from the bankruptcy court de-designating a subchapter V case is uncertain.
January 04, 2023 at 09:00 AM
8 minute read
Contributors
The U.S. Bankruptcy Court for the District of Delaware recently discussed a question of first impression in Delaware—when a subchapter V debtor is unwilling or unable to serve as a fiduciary to the bankruptcy estate, does the bankruptcy court have the authority to "de-designate" a subchapter V case to a "regular" Chapter 11 case, so that the court can then appoint a Chapter 11 trustee? Although the Delaware bankruptcy court ultimately left the question undecided, it stated that even if the court did have the authority to order such a remedy, it should only do so as a measure of last resort.
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