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Dream House Windows Confirms Chapter 11
Dream House Windows has established & implemented a plan for reorganization which has been confirmed by the United States Bankruptcy Court for the district of New Jersey as of May 11th, 2011.
By: Mike Bahm
“The chapter of the Bankruptcy Code providing (generally) for reorganization, usually involving a corporation or partnership. (A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.)”
“Confirmation of a plan under Chapter 11 acts as a discharge of all debts, filed or not, excluding those specified as not dischargeable elsewhere in the bankruptcy code. Upon confirmation of a plan, the debtor receives back all his property free and clear of all liens and encumbrances unless such liens are preserved by the plan. Both the debtor and the creditors are bound by the terms of the confirmed plan.”
Dream House Windows would like to thank its customers and employees for its continued support and dedication during this time of reorganization.