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LSDefine

Simple English definitions for legal terms

feasibility standard

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A quick definition of feasibility standard:

Feasibility Standard: In bankruptcy, a Chapter 11 reorganization plan must be practical and have a good chance of succeeding to get approval from the court.

A more thorough explanation:

The feasibility standard is a requirement in bankruptcy cases that a Chapter 11 reorganization plan must be workable and have a reasonable likelihood of success in order to obtain approval from the bankruptcy court.

For example, if a company files for bankruptcy and proposes a reorganization plan that involves significant debt restructuring and cost-cutting measures, the feasibility standard requires that the plan be realistic and achievable. The court will evaluate the plan to determine if it has a reasonable chance of success and if it is in the best interest of the company's creditors and stakeholders.

Another example could be a real estate developer who files for bankruptcy and proposes a plan to sell off some of their properties to pay off creditors and restructure their debt. The feasibility standard would require that the plan be viable and have a reasonable chance of success in order to be approved by the court.

The feasibility standard is important because it ensures that bankruptcy reorganization plans are not just wishful thinking, but rather realistic and achievable solutions to financial difficulties. This protects the interests of creditors and stakeholders and helps to ensure a successful outcome for all parties involved.

feasant | feasor

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i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
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i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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