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PART III--CLAIMS AND DISTRIBUTION TO CREDITORS AND EQUITY INTEREST
HOLDERS; PLANS
Rule 3001. Proof of Claim
(a) Form and content. A proof of claim is a
written statement setting forth a creditor's claim. A proof of claim shall
conform substantially to the appropriate Official Form.
(b) Who may execute. A proof of claim shall be
executed by the creditor or the creditor's authorized agent except as provided
in Rules 3004 and 3005.
(c) Claim based on a writing. When a claim, or
an interest in property of the debtor securing the claim, is based on a
writing, the original or a duplicate shall be filed with the proof of claim.
If the writing has been lost or destroyed, a statement of the circumstances of
the loss or destruction shall be filed with the claim.
(d) Evidence of perfection of security interest.
If a security interest in property of the debtor is claimed, the proof of
claim shall be accompanied by evidence that the security interest has been
perfected.
(e) Transferred claim.
(1) Transfer of claim other than for security before proof filed. If a
claim has been transferred other than for security before proof of the claim
has been filed, the proof of claim may be filed only by the transferee or an
indenture trustee.
(2) Transfer of claim other than for security after proof filed. If a
claim other than one based on a publicly traded note, bond, or debenture has
been transferred other than for security after the proof of claim has been
filed, evidence of the transfer shall be filed by the transferee. The clerk
shall immediately notify the alleged transferor by mail of the filing of the
evidence of transfer and that objection thereto, if any, must be filed
within 20 days of the mailing of the notice or within any additional time
allowed by the court. If the alleged transferor files a timely objection and
the court finds, after notice and a hearing, that the claim has been
transferred other than for security, it shall enter an order substituting
the transferee for the transferor. If a timely objection is not filed by the
alleged transferor, the transferee shall be substituted for the transferor.
(3) Transfer of claim for security before proof filed. If a claim other
than one based on a publicly traded note, bond, or debenture has been
transferred for security before proof of the claim has been filed, the
transferor or transferee or both may file a proof of claim for the full
amount. The proof shall be supported by a statement setting forth the terms
of the transfer. If either the transferor or the transferee files a proof of
claim, the clerk shall immediately notify the other by mail of the right to
join in the filed claim. If both transferor and transferee file proofs of
the same claim, the proofs shall be consolidated. If the transferor or
transferee does not file an agreement regarding its relative rights
respecting voting of the claim, payment of dividends thereon, or
participation in the administration of the estate, on motion by a party in
interest and after notice and a hearing, the court shall enter such orders
respecting these matters as may be appropriate.
(4) Transfer of claim for security after proof filed. If a claim other
than one based on a publicly traded note, bond, or debenture has been
transferred for security after the proof of claim has been filed, evidence
of the terms of the transfer shall be filed by the transferee. The clerk
shall immediately notify the alleged transferor by mail of the filing of the
evidence of transfer and that objection thereto, if any, must be filed
within 20 days of the mailing of the notice or within any additional time
allowed by the court. If a timely objection is filed by the alleged
transferor, the court, after notice and a hearing, shall determine whether
the claim has been transferred for security. If the transferor or transferee
does not file an agreement regarding its relative rights respecting voting
of the claim, payment of dividends thereon, or participation in the
administration of the estate, on motion by a party in interest and after
notice and a hearing, the court shall enter such orders respecting these
matters as may be appropriate.
(5) Service of objection or motion; notice of hearing. A copy of an
objection filed pursuant to paragraph (2) or (4) or a motion filed pursuant
to paragraph (3) or (4) of this subdivision together with a notice of a
hearing shall be mailed or otherwise delivered to the transferor or
transferee, whichever is appropriate, at least 30 days prior to the hearing.
(f) Evidentiary effect. A proof of claim
executed and filed in accordance with these rules shall constitute prima facie
evidence of the validity and amount of the claim.
(g) To the extent not inconsistent with the United
States Warehouse Act or applicable State law, a warehouse receipt, scale
ticket, or similar document of the type routinely issued as evidence of title
by a grain storage facility, as defined in section 557 of title 11, shall
constitute prima facie evidence of the validity and amount of a claim of
ownership of a quantity of grain.
Rule 3002. Filing Proof of Claim or Interest
(a) Necessity for filing. An unsecured creditor
or an equity security holder must file a proof of claim or interest for the
claim or interest to be allowed, except as provided in Rules
1019(3), 3003, 3004, and 3005.
(b) Place of filing. A proof of claim or
interest shall be filed in accordance with Rule 5005.
(c) Time for filing. In a chapter 7
liquidation, chapter 12 family farmer's debt adjustment, or chapter 13
individual's debt adjustment case, a proof of claim is timely filed if it is
filed not later than 90 days after the first date set for the meeting of
creditors called under § 341(a) of the
Code, except as follows:
(1) A proof of claim filed by a governmental unit is timely filed if it
is filed not later than 180 days after the date of the order for relief. On
motion of a governmental unit before the expiration of such period and for
cause shown, court court may extend the time for filing of a claim by the
governmental unit.
(2) In the interest of justice and if it will not unduly delay the
administration of the case, the court may extend the time for filing a proof
of claim by an infant or incompetent person or the representative of either.
(3) An unsecured claim which arises in favor of an entity or becomes
allowable as a result of a judgment may be filed within 30 days after the
judgment becomes final if the judgment is for the recovery of money or
property from that entity or denies or avoids the entity's interest in
property. If the judgment imposes a liability which is not satisfied, or a
duty which is not performed within such period or such further time as the
court may permit, the claim shall not be allowed.
(4) A claim arising from the rejection of an executory contract or
unexpired lease of the debtor may be filed within such time as the court may
direct.
(5) If notice of insufficient assets to pay a dividend was given to
creditors pursuant to Rule 2002(e), and
subsequently the trustee notifies the court that payment of a dividend
appears possible, the clerk shall notify the creditors of that fact and that
they may file proofs of claim within 90 days after the mailing of the
notice.
(6) [Abrogated]
Rule 3003. Filing Proof of Claim or Equity Security
Interest in Chapter 9 Municipality or Chapter 11 Reorganization Cases
(a) Applicability of rule. This rule applies in
chapter 9 and 11 cases.
(b) Schedule of liabilities and list of equity
security holders.
(1) Schedule of liabilities. The schedule of liabilities filed
pursuant to § 521(1) of the Code shall
constitute prima facie evidence of the validity and amount of the claims of
creditors, unless they are scheduled as disputed, contingent, or
unliquidated. It shall not be necessary for a creditor or equity security
holder to file a proof of claim or interest except as provided in
subdivision (c)(2) of this rule.
(2) List of equity security holders. The list of equity security
holders filed pursuant to Rule 1007(a)(3)
shall constitute prima facie evidence of the validity and amount of the
equity security interests and it shall not be necessary for the holders of
such interests to file a proof of interest.
(c) Filing proof of claim.
(1) Who may file. Any creditor or indenture trustee may file a
proof of claim within the time prescribed by subdivision (c)(3) of this
rule.
(2) Who must file. Any creditor or equity security holder whose
claim or interest is not scheduled or scheduled as disputed, contingent, or
unliquidated shall file a proof of claim or interest within the time
prescribed by subdivision (c)(3) of this rule; any creditor who fails to do
so shall not be treated as a creditor with respect to such claim for the
purposes of voting and distribution.
(3) Time for filing. The court shall fix and for cause shown may
extend the time within which proofs of claim or interest may be filed.
Notwithstanding the expiration of such time, a proof of claim may be filed
to the extent and under the conditions stated in Rule
3002(c)(2), (c)(3), and (c)(4).
(4) Effect of filing claim or interest. A proof of claim or
interest executed and filed in accordance with this subdivision shall
supersede any scheduling of that claim or interest pursuant to §
521(1) of the Code.
(5) Filing by indenture trustee. An indenture trustee may file a
claim on behalf of all known or unknown holders of securities issued
pursuant to the trust instrument under which it is trustee.
(d) Proof of right to record status. For the
purposes of Rules 3017, 3018 and 3021
and for receiving notices, an entity who is not the record holder of a
security may file a statement setting forth facts which entitle that entity to
be treated as the record holder. An objection to the statement may be filed by
any party in interest.
Rule 3004. Filing of Claims by Debtor or Trustee
If a creditor does not timely file a proof of claim under Rule
3002(c) or 3003(c), the debtor or trustee may file
a proof of the claim within 30 days after expiration of the time for filing
claims prescribed by Rule 3002(c) or 3003(c),
whichever is applicable. The clerk shall forthwith give notice of the filing
to the creditor, the debtor and the trustee.
Rule 3005. Filing of Claim, Acceptance, or Rejection By
Guarantor, Surety, Indorser, or Other Codebtor
(a) Filing of claim. If a creditor does not
timely file a proof of claim under Rule 3002 or 3003(c),
an entity that is or may be liable with the debtor to that creditor, or who
has secured that creditor, may, within 30 days after the expiration of the
time for filing claims prescribed by Rule 3002(c) or 3003(c)
whichever is applicable, file a proof of the claim. No distribution shall be
made on the claim except on satisfactory proof that the original debt will be
diminished by the amount of distribution.
(b) Filing of acceptance or rejection; substitution
of creditor. An entity which has filed a claim pursuant to the first
sentence of subdivision (a) of this rule may file an acceptance or rejection
of a plan in the name of the creditor, if known, or if unknown, in the
entity's own name but if the creditor files a proof of claim within the time
permitted by Rule 3003(c) or files a notice prior to
confirmation of a plan of the creditor's intention to act in the creditor's
own behalf, the creditor shall be substituted for the obligor with respect to
that claim.
Rule 3006. Withdrawal of Claim; Effect on Acceptance or
Rejection of Plan
A creditor may withdraw a claim as of right by filing a notice of
withdrawal, except as provided in this rule. If after a creditor has filed a
proof of claim an objection is filed thereto or a complaint is filed against
that creditor in an adversary proceeding, or the creditor has accepted or
rejected the plan or otherwise has participated significantly in the case, the
creditor may not withdraw the claim except on order of the court after a
hearing on notice to the trustee or debtor in possession, and any creditors'
committee elected pursuant to § 705(a) or
appointed pursuant to § 1102 of the Code. The order of the court shall
contain such terms and conditions as the court deems proper. Unless the court
orders otherwise, an authorized withdrawal of a claim shall constitute
withdrawal of any related acceptance or rejection of a plan.
Rule 3007. Objections to Claims
An objection to the allowance of a claim shall be in writing and filed. A
copy of the objection with notice of the hearing thereon shall be mailed or
otherwise delivered to the claimant, the debtor or debtor in possession and
the trustee at least 30 days prior to the hearing. If an objection to a claim
is joined with a demand for relief of the kind specified in Rule
7001, it becomes an adversary proceeding.
Rule 3008. Reconsideration of Claims
A party in interest may move for reconsideration of an order allowing or
disallowing a claim against the estate. The court after a hearing on notice
shall enter an appropriate order.
Rule 3009. Declaration and Payment of Dividends in a
Chapter 7 Liquidation Case
In a chapter 7 case, dividends to creditors shall be paid as promptly as
practicable. Dividend checks shall be made payable to and mailed to each
creditor whose claim has been allowed, unless a power of attorney authorizing
another entity to receive dividends has been executed and filed in accordance
with Rule 9010. In that event, dividend checks
shall be made payable to the creditor and to the other entity and shall be
mailed to the other entity.
Rule 3010. Small Dividends and Payments in Chapter 7
Liquidation, Chapter 12 Family Farmer's Debt Adjustment, and Chapter 13
Individual's Debt Adjustment Cases
(a) Chapter 7 cases. In a chapter 7 case no
dividend in an amount less than $5 shall be distributed by the trustee to any
creditor unless authorized by local rule or order of the court. Any dividend
not distributed to a creditor shall be treated in the same manner as unclaimed
funds as provided in § 347 of the Code.
(b) Chapter 12 and chapter 13 cases. In a
chapter 12 or chapter 13 case no payment in an amount less than $15 shall be
distributed by the trustee to any creditor unless authorized by local rule or
order of the court. Funds not distributed because of this subdivision shall
accumulate and shall be paid whenever the accumulation aggregates $15. Any
funds remaining shall be distributed with the final payment.
Rule 3011. Unclaimed Funds in Chapter 7 Liquidation,
Chapter 12 Family Farmer's Debt Adjustment, and Chapter 13 Individual's Debt
Adjustment Cases
The trustee shall file a list of all known names and addresses of the
entities and the amounts which they are entitled to be paid from remaining
property of the estate that is paid into court pursuant to §
347(a) of the Code.
Rule 3012. Valuation of Security
The court may determine the value of a claim secured by a lien on property
in which the estate has an interest on motion of any party in interest and
after a hearing on notice to the holder of the secured claim and any other
entity as the court may direct.
Rule 3013. Classification of Claims and Interests
For the purposes of the plan and its acceptance, the court may, on motion
after hearing on notice as the court may direct, determine classes of
creditors and equity security holders pursuant to §§ 1122, 1222(b)(1), and 1322(b)(1)
of the Code.
Rule 3014. Election Under § 1111(b) by Secured
Creditor in Chapter 9 Municipality or Chapter 11 Reorganization Case
An election of application of § 1111(b)(2) of the Code by a class of
secured creditors in a chapter 9 or 11 case may be made at any time prior to
the conclusion of the hearing on the disclosure statement or within such later
time as the court may fix. If the disclosure statement is conditionally
approved pursuant to Rule 3017.1, and a final hearing on
the disclosure statement is not held, the election of application of §
1111(b)(2) may be made not later than the date fixed pursuant to Rule
3017.1(a)(2) or another date the court may fix. The election shall be in
writing and signed unless made at the hearing on the disclosure statement. The
election, if made by the majorities required by § 1111(b)(1)(A)(i), shall be
binding on all members of the class with respect to the plan.
Rule 3015. Filing, Objection to Confirmation, and
Modification of a Plan in a Chapter 12 Family Farmer's Debt Adjustment or a
Chapter 13 Individual's Debt Adjustment Case
(a) Chapter 12 plan. The debtor may file a
chapter 12 plan with the petition. If a plan is not filed with the petition,
it shall be filed within the time prescribed by § 1221 of the Code.
(b) Chapter 13 plan. The debtor may file a
chapter 13 plan with the petition. If a plan is not filed with the petition,
it shall be filed within 15 days thereafter, and such time may not be further
extended except for cause shown and on notice as the court may direct. If a
case is converted to chapter 13, a plan shall be filed within 15 days
thereafter, and such time may not be further extended except for cause shown
and on notice as the court may direct.
(c) Dating. Every proposed plan and any
modification thereof shall be dated.
(d) Notice and copies. The plan or a summary of
the plan shall be included with each notice of the hearing on confirmation
mailed pursuant to Rule 2002. If required by the
court, the debtor shall furnish a sufficient number of copies to enable the
clerk to include a copy of the plan with the notice of the hearing.
(e) Transmission to United States trustee. The
clerk shall forthwith transmit to the United States trustee a copy of the plan
and any modification thereof filed pursuant to subdivision (a) or (b) of this
rule.
(f) Objection to confirmation; determination of good
faith in the absence of an objection. An objection to confirmation of a
plan shall be filed and served on the debtor, the trustee, and any other
entity designated by the court, and shall be transmitted to the United States
trustee, before confirmation of the plan. An objection to confirmation is
governed by Rule 9014. If no objection is timely
filed, the court may determine that the plan has been proposed in good faith
and not by any means forbidden by law without receiving evidence on such
issues.
(g) Modification of plan after confirmation. A
request to modify a plan pursuant to § 1229 or §
1329 of the Code shall identify the proponent and shall be filed together
with the proposed modification. The clerk, or some other person as the court
may direct, shall give the debtor, the trustee, and all creditors not less
than 20 days notice by mail of the time fixed for filing objections and, if an
objection is filed, the hearing to consider the proposed modification, unless
the court orders otherwise with respect to creditors who are not affected by
the proposed modification. A copy of the notice shall be transmitted to the
United States trustee. A copy of the proposed modification, or a summary
thereof, shall be included with the notice. If required by the court, the
proponent shall furnish a sufficient number of copies of the proposed
modification, or a summary thereof, to enable the clerk to include a copy with
each notice. Any objection to the proposed modification shall be filed and
served on the debtor, the trustee, and any other entity designated by the
court, and shall be transmitted to the United States trustee. An objection to
a proposed modification is governed by Rule 9014.
Rule 3016. Filing of Plan and Disclosure Statement in a
Chapter 9 Municipality or Chapter 11 Reorganization Case
(a) Identification of plan. Every proposed plan
and any modification thereof shall be dated and, in a chapter 11 case,
identified with the name of the entity or entities submitting or filing it.
(b) Disclosure statement. In a chapter 9 or 11
case, a disclosure statement under § 1125 or evidence showing compliance with
§ 1126(b) of the Code shall be filed with the plan or within a time fixed by
the court.
(c) Injunction Under a Plan. If a plan provides
for an injunction against conduct not otherwise enjoined under the Code, the
plan and disclosure statement shall describe in specific and conspicuous
language (bold, italic, or underlined text) all acts to be enjoined and
identify the entities that would be subject to the injunction.
Rule 3017. Court Consideration of Disclosure Statement
in a Chapter 9 Municipality or Chapter 11 Reorganization Case
(a) Hearing on disclosure statement and objections.
Except as provided in Rule 3017.1, after a disclosure
statement is filed in accordance with Rule 3016(b), the
court shall hold a hearing on at least 25 days' notice to the debtor,
creditors, equity security holders and other parties in interest as provided
in Rule 2002 to consider the disclosure
statement and any objections or modifications thereto. The plan and the
disclosure statement shall be mailed with the notice of the hearing only to
the debtor, any trustee or committee appointed under the Code, the Securities
and Exchange Commission, and any party in interest who requests in writing a
copy of the statement or plan. Objections to the disclosure statement shall be
filed and served on the debtor, the trustee, any committee appointed under the
Code, and any other entity designated by the court, at any time before the
disclosure statement is approved or by an earlier date as the court may fix.
In a chapter 11 reorganization case, every notice, plan, disclosure statement,
and objection required to be served or mailed pursuant to this subdivision
shall be transmitted to the United States trustee within the time provided in
this subdivision.
(b) Determination on disclosure statement.
Following the hearing the court shall determine whether the disclosure
statement should be approved.
(c) Dates fixed for voting on plan and confirmation.
On or before approval of the disclosure statement, the court shall fix a time
within which the holders of claims and interests may accept or reject the plan
and may fix a date for the hearing on confirmation.
(d) Transmission and notice to United States trustee,
creditors and equity security holders. Upon approval of a disclosure
statement,--except to the extent that the court orders otherwise with respect
to one or more unimpaired classes of creditors or equity security holders--the
debtor in possession, trustee, proponent of the plan, or clerk as the court
orders shall mail to all creditors and equity security holders, and in a
chapter 11 reorganization case shall transmit to the United States trustee,
(1) the plan or a court-approved summary of the plan;
(2) the disclosure statement approved by the court;
(3) notice of the time within which acceptances and rejections of the
plan may be filed; and
(4) any other information as the court may direct, including any court
opinion approving the disclosure statement or a court-approved summary of
the opinion.
In addition, notice of the time fixed for filing objections and the hearing
on confirmation shall be mailed to all creditors and equity security holders
in accordance with Rule 2002(b), and a form
of ballot conforming to the appropriate Official Form shall be mailed to
creditors and equity security holders entitled to vote on the plan. If the
court opinion is not transmitted or only a summary of the plan is transmitted,
the court opinion or the plan shall be provided on request of a party in
interest at the plan proponent's expense. If the court orders that the
disclosure statement and the plan or a summary of the plan shall not be mailed
to any unimpaired class, notice that the class is designated in the plan as
unimpaired and notice of the name and address of the person from whom the plan
or summary of the plan and disclosure statement may be obtained upon request
and at the plan proponent's expense, shall be mailed to members of the
unimpaired class together with the notice of the time fixed for filing
objections to and the hearing on confirmation. For the purposes of this
subdivision, creditors and equity security holders shall include holders of
stock, bonds, debentures, notes, and other securities of record on the date
the order approving the disclosure statement is entered or another date fixed
by the court, for cause, after notice and a hearing.
(e) Transmission to beneficial holders of securities.
At the hearing held pursuant to subdivision (a) of this rule, the court shall
consider the procedures for transmitting the documents and information
required by subdivision (d) of this rule to beneficial holders of stock,
bonds, debentures, notes, and other securities, determine the adequacy of the
procedures, and enter any orders the court deems appropriate.
(f) Notice and Transmission of Documents to Entities
Subject to an Injunction Under a Plan. If a plan provides for an
injunction against conduct not otherwise enjoined under the Code and an entity
that would be subject to the injunction is not a creditor or equity security
holder, at the hearing held under Rule 3017(a), the
court shall consider procedures for providing the entity with:
(1) at least 25 days' notice of the time fixed for filing objections and
the hearing on confirmation of the plan containing the information described
in Rule 2002(c)(3); and
(2) to the extent feasible, a copy of the plan and disclosure statement.
Rule 3017.1. Court Consideration of Disclosure
Statement in a Small Business Case
(a) Conditional approval of disclosure statement.
If the debtor is a small business and has made a timely election to be
considered a small business in a chapter 11 case, the court may, on
application of the plan proponent, conditionally approve a disclosure
statement filed in accordance with Rule 3016(b). On or
before conditional approval of the disclosure statement, the court shall:
(1) fix a time within which the holders of claims and interests may
accept or reject the plan;
(2) fix a time for filing objections to the disclosure statement;
(3) fix a date for the hearing on final approval of the disclosure
statement to be held if a timely objection is filed; and
(4) fix a date for the hearing on confirmation.
(b) Application of Rule 3017.
Rule 3017(a), (b), (c),
and (e) do not apply to a conditionally approved
disclosure statement. Rule 3017(d) applies to a
conditionally approved disclosure statement, except that conditional approval
is considered approval of the disclosure statement for the purpose of applying
Rule 3017(d).
(c) Final approval.
(1) Notice. Notice of the time fixed for filing objections and the
hearing to consider final approval of the disclosure statement shall be
given in accordance with Rule 2002 and may be
combined with notice of the hearing on confirmation of the plan.
(2) Objections. Objections to the disclosure statement shall be
filed, transmitted to the United States trustee, and served on the debtor,
the trustee, any committee appointed under the Code and any other entity
designated by the court at any time before final approval of the disclosure
statement or by an earlier date as the court may fix.
(3) Hearing. If a timely objection to the disclosure statement is
filed, the court shall hold a hearing to consider final approval before or
combined with the hearing on confirmation of the plan.
Rule 3018. Acceptance or Rejection of Plan in a Chapter
9 Municipality or a Chapter 11 Reorganization Case
(a) Entities entitled to accept or reject plan; time
for acceptance or rejection. A plan may be accepted or rejected in
accordance with § 1126 of the Code within the time fixed by the court
pursuant to Rule 3017. Subject to subdivision (b) of this
rule, an equity security holder or creditor whose claim is based on a security
of record shall not be entitled to accept or reject a plan unless the equity
security holder or creditor is the holder of record of the security on the
date the order approving the disclosure statement is entered or on another
date fixed by the court, for cause, after notice and a hearing. For cause
shown, the court after notice and hearing may permit a creditor or equity
security holder to change or withdraw an acceptance or rejection.
Notwithstanding objection to a claim or interest, the court after notice and
hearing may temporarily allow the claim or interest in an amount which the
court deems proper for the purpose of accepting or rejecting a plan.
(b) Acceptances or rejections obtained before
petition. An equity security holder or creditor whose claim is based on
a security of record who accepted or rejected the plan before the commencement
of the case shall not be deemed to have accepted or rejected the plan pursuant
to § 1126(b) of the Code unless the equity security holder or creditor was
the holder of record of the security on the date specified in the solicitation
of such acceptance or rejection for the purposes of such solicitation. A
holder of a claim or interest who has accepted or rejected a plan before the
commencement of the case under the Code shall not be deemed to have accepted
or rejected the plan if the court finds after notice and hearing that the plan
was not transmitted to substantially all creditors and equity security holders
of the same class, that an unreasonably short time was prescribed for such
creditors and equity security holders to accept or reject the plan, or that
the solicitation was not in compliance with § 1126(b) of the Code.
(c) Form of acceptance or rejection. An
acceptance or rejection shall be in writing, identify the plan or plans
accepted or rejected, be signed by the creditor or equity security holder or
an authorized agent, and conform to the appropriate Official Form. If more
than one plan is transmitted pursuant to Rule 3017, an
acceptance or rejection may be filed by each creditor or equity security
holder for any number of plans transmitted and if acceptances are filed for
more than one plan, the creditor or equity security holder may indicate a
preference or preferences among the plans so accepted.
(d) Acceptance or rejection by partially secured creditor. A creditor
whose claim has been allowed in part as a secured claim and in part as an
unsecured claim shall be entitled to accept or reject a plan in both
capacities.
Rule 3019. Modification of Accepted Plan Before
Confirmation in a Chapter 9 Municipality or Chapter 11 Reorganization Case
In a chapter 9 or chapter 11 case, after a plan has been accepted and
before its confirmation, the proponent may file a modification of the plan. If
the court finds after hearing on notice to the trustee, any committee
appointed under the Code, and any other entity designated by the court that
the proposed modification does not adversely change the treatment of the claim
of any creditor or the interest of any equity security holder who has not
accepted in writing the modification, it shall be deemed accepted by all
creditors and equity security holders who have previously accepted the plan.
Rule 3020. Deposit; Confirmation of Plan in a Chapter 9
Municipality or Chapter 11 Reorganization Case
(a) Deposit. In a chapter 11 case, prior to
entry of the order confirming the plan, the court may order the deposit with
the trustee or debtor in possession of the consideration required by the plan
to be distributed on confirmation. Any money deposited shall be kept in a
special account established for the exclusive purpose of making the
distribution.
(b) Objection to and hearing on confirmation in a
Chapter 9 or Chapter 11 case.
(1) Objection. An objection to confirmation of the plan shall be
filed and served on the debtor, the trustee, the proponent of the plan, any
committee appointed under the Code, and any other entity designated by the
court, within a time fixed by the court. Unless the case is a chapter 9
municipality case, a copy of every objection to confirmation shall be
transmitted by the objecting party to the United States trustee within the
time fixed for filing objections. An objection to confirmation is governed
by Rule 9014.
(2) Hearing. The court shall rule on confirmation of the plan after
notice and hearing as provided in Rule 2002.
If no objection is timely filed, the court may determine that the plan has
been proposed in good faith and not by any means forbidden by law without
receiving evidence on such issues.
(c) Order of confirmation.
(1) The order of confirmation shall conform to the appropriate Official
Form. If the plan provides for an injunction against conduct not otherwise
enjoined under the Code, the order of confirmation shall (1) describe in
reasonable detail all acts enjoined; (2) be specific in its terms regarding
the injunction; and (3) identify the entities subject to the injunction.
(2) Notice of entry of the order of confirmation shall be mailed promptly
to the debtor, the trustee, creditors, equity security holders, other
parties in interest, and, if known, to any identified entity subject to an
injunction provided for in the plan against conduct not otherwise enjoined
under the Code.
(3) Except in a chapter 9 municipality case, notice of entry of the order
of confirmation shall be transmitted to the United States trustee as
provided in Rule 2002(k).
(d) Retained power. Notwithstanding the entry
of the order of confirmation, the court may issue any other order necessary to
administer the estate.
Rule 3021. Distribution Under Plan
Except as provided in Rule 3020(e)[sic], after a plan is confirmed,
distribution shall be made to creditors whose claims have been allowed, to
interest holders whose interests have not been disallowed, and to indenture
trustees who have filed claims pursuant to Rule 3003(c)(5)
that have been allowed. For purposes of this rule, creditors include holders
of bonds, debentures, notes, and other debt securities, and interest holders
include the holders of stock and other equity securities, of record at the
time of commencement of distribution unless a different time is fixed by the
plan or the order confirming the plan.
Rule 3022. Final Decree in Chapter 11 Reorganization
Case
After an estate is fully administered in a chapter 11 reorganization case,
the court, on its own motion or on motion of a party in interest, shall enter
a final decree closing the case.
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