9th Cir Unpublished - District Court Reversed for revoking an order confirming a chapter 11 plan 3 years later

The District Court was reversed because it utilized its equitable powers to revoke a Chapter 11 plan more than 3 years after it was entered.  The Court stated in part:

 

Once a Chapter 11 plan is confirmed, "all questions that could have been raised pertaining to the plan are entitled to res judicata effect." Miller v. United States, 363 F.3d 999, 1004 (9th Cir. 2004)

 

Section 1144 of the Bankruptcy code is the only avenue for revoking a confirmed Chapter 11 plan. In re Orange Tree Assocs., 961 F.2d 1445, 1447 n.6 (1992) (citing In re Longardner & Assocs., 855 F.2d 455, 460 (7th Cir. 1988)). Under Section 1144, a party seeking revocation may only move for such relief within 180 days after "the date of the entry of the order of confirmation, and . . . the court may revoke such order if and only if such order was procured by fraud."

 

In re Asset Resolution, LLC