CHAPTER 11 PLAN CONFIRMATION AND POSTCONFIRMATION

REQUIREMENTS (a) (b) Payment of Special Charges. The proposed plan confirmation order must 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. Postconfirmation Requirements.

After confirmation of a chapter 11 plan, the reorganized debtor must file and serve postconfirmation status reports (on the United States trustee and the 20 largest unsecured creditors) setting forth the following information: (1) (2) Progress that has been made toward substantial consummation of the confirmed plan; 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; (3) A schedule of any and all postconfirmation tax liabilities that have accrued or come due and a detailed explanation of payments thereon; (4) Projections as to the reorganized debtor’s, postconfirmation trustee’s, or other responsible party’s continuing ability to comply with the terms of the plan; (5) An estimate of the date for plan consummation and application for final decree; and (6) 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. (c) Timing of Postconfirmation Reporting. Unless otherwise ordered, the first postconfirmation status report must be filed within 120 days of entry of the order confirming the plan.

Subsequent reports will be due on the 15th day of the month 67 LBR 3020-2 following each successive 120-day reporting period until a final decree is entered. (d) (e) Effect of Failure to File Postconfirmation Reports. The failure to file timely postconfirmation status reports is cause for dismissal or conversion to a case under chapter 7 pursuant to 11 U.S.C. § 1112(b). Effect of Conversion to Chapter 7.

Upon confirmation of a chapter 11 plan, the debtor, or plan proponent whose plan was confirmed, must lodge a form of confirmation order that includes a provision, consistent with 11 U.S.C. § 1141(b), that, unless otherwise provided for in the plan, if the case is converted to one under chapter 7, the property of the reorganized debtor, or of any liquidation or litigation trust, or of any other successor to the estate under the plan, that has not been distributed under the plan will be vested in the chapter 7 estate, except for property that would have been excluded from the estate if the case had always been one under chapter 7.