october 26, 2017 presentation by: the honorable meredith a ...oct 26, 2017 · confirmation order...
TRANSCRIPT
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October 26, 2017
Presentation by:The Honorable Meredith A. Jury,
The Honorable Victoria S. Kaufman, and Trustee Elizabeth F. Rojas
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TheChapter13PlanPart1:PreliminaryInformation
• Sets out boxes for the Debtor to check if: • There is a valuation of property or avoidance of lien in Class 3• There is an avoidance of a judicial lien or nonpossessory, nonpurchase-
money security interest in Section IV • There will be less than full payment for DSO • There will be other Non-standard provisions listed in Section IV
Judge Kaufman 2
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Part2:PlanTermsSectionI(B):NonpriorityUnsecured
Claims� Provides options for the following (more than 1 box
may be checked): � “pot” plan� “percentage” plan� “residual” plan
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SectionI(B):NonpriorityUnsecuredClaims
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SectionI(C):RegardingPayments� Includes a section whereby the debtor will be able to
select a method of payment for the plan payments to the trustee
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SectionI(D)andI(E):IncomeTaxRefundsandNoticeofPost-petitionFees&Costs� Adds a section stating that income tax returns must be
provided to the trustee by the debtor within 14 days of filing the return. All income tax refunds in excess of $500 must be turned over to the trustee unless the plan is a 100% plan
� Adds a section with info re: Notice of Post petition Fees & Costs filed by a secured creditor; trustee authorized to commence paying charges 90 days after notice is filed unless Debtor objects by filing a motion to determine payment
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SectionI(D)andI(E):IncomeTaxRefundsandNoticeofPost-petitionFeesandCosts
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SectionII(A):OrderofPayments� All administrative expenses will be paid until paid in full—
eliminates the line to list a percentage of the plan payment to be paid towards administrative expenses
Trustee Rojas 8
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SectionII(B)-Class3A� Specifies that a bifurcation of a secured or unsecured
claim is proposed in the plan � Requires a court order fixing the dollar amount of the
secured claim and/or avoiding the lien OR � Debtor must complete Section IV(C) so that the plan
itself serves as a motion � Adds section regarding requirement that debtor shall
pay all required ongoing property taxes & homeowner’s insurance for the real property in Class 3A
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SectionII(B)-Class3A
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SectionII(B)-Class3B� Separates from Class 3A the claims that will be paid in
full under the plan (claims that cannot be crammed down)
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SectionII(B)-Class5� Allows for more space to clearly list the creditors that are being
separately classified in Class 5 (non-priority unsecured claims). Also allows for cure of default in separately classified claims.
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SectionII(B)-Class6� Surrender of Collateral
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SectionII(B)-Class7� Adds another class for executory contracts and
unexpired leases (must indicate whether it is rejected or assumed and how many months within filing will payments be cured)
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SectionIV:Non-standardProvisions� Adds this section to list intentions to avoid liens and/or file motions to
value separately from the plan. Plan provision will only be effective if the applicable boxes are checked in Part 1, Section 1.1, 1.2, 1.3, or 1.4.
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SectionIV:Non-standardProvisions� Section IV(C): modifying secured claims without a separate motion
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Noticeof341(a)HearingandConfirmationHearing
Debtor must give:
� 21 days notice of response deadline for objection to plan
� 35 days notice of Confirmation Hearing plus 3 days for mail
� Added: “Written objections must be filed 14 days before the Confirmation Hearing”
� Deleted: “7 days before 341(a) for objections to plan” Trustee Rojas 17
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Noticeof341(a)HearingandConfirmationHearing
First version:� Any motions to avoid liens will be filed separately on
local forms
Second version:� The plan proposes to modify secured claims without a
separate motion� Also adds 2 exhibits:
� One for a list of lienholders� One for valuation evidence with additional service
list
Trustee Rojas 18
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Noticeof341(a)HearingandConfirmationHearing
Adds: � Debtor and debtor attorney must attend 341(a); interested parties
not required to attend
� Recommends to review the notice with an attorney
� The word ‘forfeiture’ regarding how the court may treat failure to file a written objection or appear at Confirmation Hearing
� Dismissal order may include:� Prohibition on being a debtor in any bankruptcy case versus just
“filing”� “Other remedies pursuant to applicable law” in addition to 180
day bar
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Noticeof341(a)HearingandConfirmationHearing
Trustee Rojas 20
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ConfirmationOrderAdds:
� Line for docket number for the plan being confirmed.
� Options for fixed % plan, pot plan, and a residual plan
� Section A under Other Provisions for lien avoidance info and attachments
� Section for Surrender of Collateral and Stay Termination, lists creditors and collateral.
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ConfirmationOrderAdds:
� Statement re: determination of amount of secured claim in plan or by separate motion is binding on the holder of the claim
� If RFS ordered, all payments under the plan to the collateral will cease
� Revesting property section— property of estate will not revest until discharge is granted, case is dismissed or closed without discharge.
Deletes:� Executory contracts and unexpired leases (Section B)
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ConfirmationOrderPage1-2
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ConfirmationOrderPage3
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LBR3015-1SignificantChanges� LBR 3015-1(b)(7): Pleadings to value collateral and/or to avoid liens must be filed within
28 days of case commencement
� LBR 3015-1(c)(5): Lists the specific reports and documents that are required to be submitted to the trustee if a debtor is self employed and has employees
� LBR 3015-1(d)(2)(B): Confirmation orders will be held 7 days for objections. If the objection is timely filed, the objecting party must set a hearing on the objection not less than 7 days and no more than 28 days’ notice on a Chapter 13 miscellaneous motion calendar
� LBR 3015-1(e)(2) and LBR 3015-1(m)(4): For personal property and real property surrendered in a confirmed plan, a sentence is added stating that the stay is terminated as to the surrendered collateral upon entry of the order confirming plan
� LBR 3015-1(g)(1): Objections to confirmation must be filed & served at least 14 days prior to Confirmation Hearing (versus 7 days prior to 341(a))
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