In re Made In Detroit, Inc.
United States Bankruptcy Court for the Eastern District of Michigan
299 B.R. 170 (2003)
Made In Detroit, Inc. (Made) (debtor), in Chapter 11, based its reorganization plan on obtaining a $9,000,000 loan from Kennedy Funding (Kennedy), secured by Made's property; the court had already denied Made's request to borrow from shareholders to pay Kennedy's loan-commitment fee, and Made failed to pay that fee through any other means. When Made submitted its plan, the fee remained unpaid, the collateral hadn't been appraised, and other conditions for the Kennedy loan remained unsatisfied.
Whether a reorganization plan that is conditional or based on future contingencies is feasible and can therefore meet the requirements of §1129(a)(11) for confirmation.