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There Is No Post-Confirmation True-Up of Projected Disposable Income In Subchapter V
Congress created Subchapter V of Chapter 11 (Sub V) of the Bankruptcy Code to help small business debtors (companies and individuals) complete traditional reorganizations in Chapter 11. It is no secret that Chapter 11, over the years, evolved to be an expensive and uncertain remedy for those seeking its relief, especially smaller debtors. Moreover, the sale of substantially all of a debtor's assets outside the context of a Chapter 11 plan went from being the exception, in the early 1980s, to the rule today.
This explains, in part, the rise of Chapter 11 alternatives like assignments for the benefit of creditors and friendly UCC foreclosures followed by a sale of the assets of the company by the foreclosing lender back to the owners of the defaulting company (or a newco comprised by parties including them). See, Jonathan Friedland, Rise of the Alternatives for more information.
By design, Sub V of Chapter 11 was intended to be far less expensive than traditional Chapter 11, to be faster, and to enable debtors to confirm plans that would be unconfirmable in a traditional Chapter 11.
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