TREATMENT OF IMPAIRED CLAIMS
The following class of creditors may be impaired due to the reduction in interest rates,
extension of the payment periods or reduction in payment periods.
Class 1 Class 12 Class 17 Class 20
Class 5B Class 16 Class 19
ARTICLE V
GENERAL PROVISIONS
5.1 Distributions to be made by the Debtor pursuant to this Plan Administrative and Class
16 Administrative to creditors shall be made by the Debtor’s Attorney.
5.2 The rights afforded in this Plan shall be in exchange for and in complete satisfaction,
discharge and release of all existing claims of any nature whatsoever against the Debtor or any of
its assets or property. Except by order of the Court or as otherwise provided herein, upon the
confirmation date, all existing claims against the Debtor that arose at any time before the entry of
the confirmation order including but not limited to all principal or interest shall be satisfied or
discharged and released in full, except as herein specifically provided. The Debtor's discharge shall
be effective as to each claim, regardless of whether a Proof of Claim was filed, whether the claim
is an allowed claim, or whether the holder votes to accept the Plan. All persons or entities shall be
precluded from asserting claims against the Debtor or its assets or properties or any other further
claims based upon any act or transaction or activity of any kind that occurred prior to the
confirmation date.
5.3 In the event an impaired class of creditors with a claim against the Debtor's estate is
determined to exist that class shall be entitled to vote separately to accept or reject the Plan. If sufficient acceptances are not received, the Debtor reserves the right to amend the Plan and/or to
proceed to "cram down" pursuant to the provisions of 11 U.S.C. § 1129(b).
...
IN RE: JAMES N. TUREK, CASE NO. 02-20411-PCY5 CHAPTER 11 Debtor.
...
Dated this 27th day of January, 2005.
/s/ C. Edwin Rude, Jr.
C. EDWIN RUDE, JR.
Florida Bar No. 0157985
322 McDaniel Street
Tallahassee, Florida 32303-6249
Telephone (850) 224-2422
Facsimile (850) 224-0762 |
