Legal Opinion
In Re Great Northern Protective Services, Inc.
United States Bankruptcy Court, W.D. Washington
Decided April 19, 1982No. 19-10355PublishedCited by 13 opinions
1Opinion of the Court
OPINION ON CONFIRMATION OF PROPOSED PLAN OF REORGANIZATION
SAMUEL J. STEINER, Bankruptcy Judge.
FACTS
The debtor, which provides protective and security services, filed this Chapter 11 on April 5, 1981. The schedules show debts of $66,452 of which $48,646 represent delinquent taxes. The schedules also show assets of $3,400. The plan proposes that creditors receive a hundred cents on the dollar over a six-year period. The funds will come from future earnings at the rate of $1,300 per month.
At the time of filing, the debtor was insolvent, having a negative net worth of about $63,000. If the plan…
2Cases cited1 opinion
- Oak Park Trust & Savings Bank v. Van DorenCourt of Appeals for the Seventh Circuit · 1935
3Cited by13 opinions
- In Re ClarksonCourt of Appeals for the Eighth Circuit · 1985
- In Re MartinUnited States Bankruptcy Court, D. Montana · 1986
- In Re Merrimack Valley Oil Co., Inc.United States Bankruptcy Court, D. Massachusetts · 1983
- In Re HenkeUnited States Bankruptcy Court, D. Montana · 1988
- In Re Snider Farms, Inc.United States Bankruptcy Court, N.D. Indiana · 1988
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