11 U.S.C. § 1123 : US Code - Section 1123: Contents of plan

Search 11 U.S.C. § 1123 : US Code - Section 1123: Contents of plan

(a) Notwithstanding any otherwise applicable nonbankruptcy law, a
plan shall -
(1) designate, subject to section 1122 of this title, classes
of claims, other than claims of a kind specified in section
507(a)(2), 507(a)(3), or 507(a)(8) of this title, and classes of
interests;
(2) specify any class of claims or interests that is not
impaired under the plan;
(3) specify the treatment of any class of claims or interests
that is impaired under the plan;
(4) provide the same treatment for each claim or interest of a
particular class, unless the holder of a particular claim or
interest agrees to a less favorable treatment of such particular
claim or interest;
(5) provide adequate means for the plan's implementation, such
as -
(A) retention by the debtor of all or any part of the
property of the estate;
(B) transfer of all or any part of the property of the estate
to one or more entities, whether organized before or after the
confirmation of such plan;
(C) merger or consolidation of the debtor with one or more
persons;
(D) sale of all or any part of the property of the estate,
either subject to or free of any lien, or the distribution of
all or any part of the property of the estate among those
having an interest in such property of the estate;
(E) satisfaction or modification of any lien;
(F) cancellation or modification of any indenture or similar
instrument;
(G) curing or waiving of any default;
(H) extension of a maturity date or a change in an interest
rate or other term of outstanding securities;
(I) amendment of the debtor's charter; or
(J) issuance of securities of the debtor, or of any entity
referred to in subparagraph (B) or (C) of this paragraph, for
cash, for property, for existing securities, or in exchange for
claims or interests, or for any other appropriate purpose;
(6) provide for the inclusion in the charter of the debtor, if
the debtor is a corporation, or of any corporation referred to in
paragraph (5)(B) or (5)(C) of this subsection, of a provision
prohibiting the issuance of nonvoting equity securities, and
providing, as to the several classes of securities possessing
voting power, an appropriate distribution of such power among
such classes, including, in the case of any class of equity
securities having a preference over another class of equity
securities with respect to dividends, adequate provisions for the
election of directors representing such preferred class in the
event of default in the payment of such dividends;
(7) contain only provisions that are consistent with the
interests of creditors and equity security holders and with
public policy with respect to the manner of selection of any
officer, director, or trustee under the plan and any successor to
such officer, director, or trustee; and
(8) in a case in which the debtor is an individual, provide for
the payment to creditors under the plan of all or such portion of
earnings from personal services performed by the debtor after the
commencement of the case or other future income of the debtor as
is necessary for the execution of the plan.
(b) Subject to subsection (a) of this section, a plan may -
(1) impair or leave unimpaired any class of claims, secured or
unsecured, or of interests;
(2) subject to section 365 of this title, provide for the
assumption, rejection, or assignment of any executory contract or
unexpired lease of the debtor not previously rejected under such
section;
(3) provide for -
(A) the settlement or adjustment of any claim or interest
belonging to the debtor or to the estate; or
(B) the retention and enforcement by the debtor, by the
trustee, or by a representative of the estate appointed for
such purpose, of any such claim or interest;
(4) provide for the sale of all or substantially all of the
property of the estate, and the distribution of the proceeds of
such sale among holders of claims or interests;
(5) modify the rights of holders of secured claims, other than
a claim secured only by a security interest in real property that
is the debtor's principal residence, or of holders of unsecured
claims, or leave unaffected the rights of holders of any class of
claims; and
(6) include any other appropriate provision not inconsistent
with the applicable provisions of this title.
(c) In a case concerning an individual, a plan proposed by an
entity other than the debtor may not provide for the use, sale, or
lease of property exempted under section 522 of this title, unless
the debtor consents to such use, sale, or lease.
(d) Notwithstanding subsection (a) of this section and sections
506(b), 1129(a)(7), and 1129(b) of this title, if it is proposed in
a plan to cure a default the amount necessary to cure the default
shall be determined in accordance with the underlying agreement and
applicable nonbankruptcy law.