Revocation of the confirmation order is a termination or cancellation of the confirmation of a reorganization plan. The request for revocation of confirmation should be submitted by an interested party within 180 days of confirmation of the plan. The court terminates the confirmation order only after appropriate notice and hearing.
Chapter 11, Section 1330 of the bankruptcy code provides that the revocation of an order of confirmation involve certain requirements. They are:
- The request for the revocation of an order of confirmation must be submitted by the interested party involved in the bankruptcy case. The interested party may be the debtor, or the trustee, or any of the creditors.
- The request for the revocation of an order of confirmation must be submitted within 180 days after the delivery of confirmation order. This can be filed under Chapter 11, Section 1325 at any time within the stipulated time frame.
- The request for the revocation of an order of confirmation must be disposed only after ample period of notice and proper hearing.
The revocation of the confirmation order is possible if the order obtained or acquired by fraud. The court can issue an order to revoke a confirmation order only if it contains such provisions that are necessary to protect any person or entity in acquiring the rights in good faith reliance on the order of confirmation; and annul or cancel the discharge of the bankruptcy debtor.
After revocation of the confirmation order, the court may convert or dismiss the bankruptcy case.
