What is the effect of Section 1127(b) of the Bankruptcy Code on a motion to modify a Plan?

MultiRegion, United States of America

The following excerpt is from Trendi Sportswear, Inc. v. Bank of Baroda (In re Indu Craft Inc.), No. 12-3515-bk, No. 12-3618-bk, No. 12-3901-bk (2nd Cir. 2014):

We affirm for substantially the reasons set forth in the district court's thorough and well-reasoned opinion. We note that any modification of the Plan was barred by Section 1127(b) of the Bankruptcy Code because, as the courts below found, the Plan was "substantially consummated." "'It is just as important that there should be a place to end as that there should be a place to begin litigation.'" Travelers Indem., 557 U.S. at 154 (quoting Stoll v. Gottlieb, 305 U.S. 165, 172 (1938)). We agree with the district court that "in this case, the place to end the litigation has come and gone." In reIndu Craft, 2012 WL 3070387, at *2.

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