Under the Chapter 12 Fishing Business Debt Adjustment Act, the reorganizational plan of the debtor must make certain that all priority claims, such as taxes and bankruptcy costs, are paid in full.

Question

Quizplus · Accepted Answer

The Chapter 12 plan must include payments of fixed amounts to the trustee on a regular basis over a three-year period, and make certain that all priority claims, such as taxes and bankruptcy costs, are paid in full. The plan must not take longer than three years to complete, unless the time is extended by the court.

Under the Chapter 12 Fishing Business Debt Adjustment Act, the Reorganizational