First NBC Bank ordered to give Chapter 11 plan to committee by Feb. 2

By Caroline Salls

Pittsburgh, Jan. 23 – First NBC Bank Holding Co. was ordered Tuesday to provide its official committee of unsecured creditors with a plan term sheet by Feb. 2, according to a filing with the U.S. Bankruptcy Court for the Eastern District of Louisiana.

The committee must advise First NBC no later than Feb. 28 whether it will support the proposed plan.

According to the order, all disclosure statements and plans must be filed by March 14, with a disclosure statement hearing tentatively scheduled for April 19.

If no disclosure statements and plans are filed by March 14, the court said the U.S. Trustee overseeing First NBC’s Chapter 11 case will file a motion to convert the case to Chapter 7.

First NBC, a New Orleans-based bank holding company, filed bankruptcy on May 11, 2017. The Chapter 11 case number is 17-11213.

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