CHAPTER 11 CONFIRMATION
(a) PAYMENT OF SPECIAL CHARGES
The proposed plan confirmation order shall be accompanied by proof of payment of any and all special charges due to the clerk’s office. The amount of the charges to be paid may be obtained from the courtroom deputy of the judge hearing the case.
(b) POSTCONFIRMATION REQUIREMENTS
Unless otherwise provided in the plan, every order confirming a chapter 11 plan shall contain the following language:
“Within 120 days of the entry of this order, shall file a status report explaining what progress has been made toward consummation of the confirmed plan of reorganization. The initial report shall be served on the United States trustee, the 20 largest unsecured creditors, and those parties who have requested special notice. Further reports shall be filed every
days thereafter and served on the same entities, unless otherwise ordered by the court. [Optional depending on practices of particular judge: A postconfirmation status conference will be held on , 20__ at .m. in Courtroom .]
The Report shall include at least the following information:
- (1)
- A schedule listing for each debt and each class of claims: the total amount required to be paid under the plan; the amount required to be paid as of the date of the report; the amount actually paid as of the date of the report; and the deficiency, if any, in required payments;
- (2)
- A schedule of any and all postconfirmation tax liabilities that have accrued or come due and a detailed explanation of payments thereon;
- (3)
- Debtor’s projections as to its continuing ability to comply with the terms of the plan;
- (4)
- An estimate of the date for plan consummation and application for final decree; and
- (5)
- Any other pertinent information needed to explain the progress toward completion of the confirmed plan.
Reporting entities whose equity securities are registered under Section 12(b) of the Securities Exchange Act of 1934 may provide information from their latest 10Q or 10K filing with the S.E.C., if it is responsive to the requirements of this subsection.
[Unless otherwise provided in the plan] If the above-referenced case is converted to one under chapter 7, the property of the reorganized debtor shall be revested in the chapter 7 estate, except that, in individual cases, the postpetition income from personal services and proceeds thereof, and postconfirmation gifts or inheritances pursuant to 11 U.S.C. § 541(a)(5)(A) or (a)(6) shall not automatically revest in the chapter 7 estate.”
(c) EFFECT OF FAILURE TO FILE POSTCONFIRMATION REPORTS
Failure to file timely the required reports shall constitute grounds for noticing the case for conversion to a case under chapter 7 or dismissal under 11 U.S.C. § 1112(b).
See also Local Bankruptcy Rule 1017-2: DENIAL OR DISMISSAL FOR WANT OF PROSECUTION.
(d) FINAL DECREE IN CHAPTER 11 CASE
After an estate is fully administered in a chapter 11 reorganization case, a party in interest may file a motion for a final decree without the need for a hearing in accordance with the requirements set forth in Local Bankruptcy Rule 9013-1, except that notice of such a motion shall be served upon all parties upon whom the plan was served.
