Neither Debtors' schedules nor Debtors' plan disclosed that Debtors had, at the time of their petition and when their plan was filed, twenty cows they are keeping on shares. Debtor Gerald L. Fitzgerald, however, testified that income generated from the cattle would supplement the 1995 income projected in his plan. Otherwise, he did not testify how income from their farm would be substantially increased to meet their 1995 projection. Where payment of creditors is conjectural at best, the case is properly dismissed. Further, a petition to reorganize and a debtor's proposed plan of reorganization each must be filed in good faith.
Good faith is a factual determination.
Factors to consider include the status of any previous bankruptcy case and the length of time since the last filing, whether the filing was made to obtain the benefits of the automatic stay, the debtor's effort to comply with any previously confirmed and consummated plan, recognition that Congress intended a debtor to achieve the goals of bankruptcy through the filing of a single case, and any other relevant facts. The court should examine the 'totality' of the circumstances surrounding the filing. Violations of the Code or an Order encompass self-dealing and asset manipulation without court approval. There are no factors that weigh in Debtors' favor when considering whether Debtors should be allowed to continue this reorganization attempt. First, Debtors did not use their prior bankruptcy case that spanned four years to resolve their debt with RECD and other major creditors.