In re: S-Tek 1, LLC, a New Mexico limited liability company, Debtor., 2023 Bankr. LEXIS 673

Summary

HOLDINGS: [1]-The Fourth Plan of Reorganization was time-barred because the Fourth Plan was not a preconfirmation plan modification as there was no pending plan that the debtor could modify, and the debtor did not make a request to extend the 90-day deadline under 11 U.S.C.S. § 1189 so it could file the Fourth Plan; [2]-Cause existed under 11 U.S.C.S. § 1112(b) to convert or dismiss because the debtor could not propose a confirmable plan as not only did the court deny confirmation of the Third Plan, but the debtor also had no ability to file another plan that it could take to a confirmation hearing; [3]-Converting the case to one under chapter 7 was in the best interest of creditors and the estate because, in part, there was a very real risk that the debtor would simply file another bankruptcy case if the court dismissed the case.