Deposit; Confirmation of Plan - Chapters 9, 11, and 12

A. Deposit.

The debtor in a case under Subchapter V of Chapter 11 or under Chapter 12 must pay the trustee an advance fee and expense deposit within 5 days after the petition is filed, and in a case under Subchapter V of Chapter 11 each month thereafter until a Subchapter V plan is confirmed. The amount to be paid is stated in Appendix D. The trustee must keep the deposit in a segregated account and may apply the deposit to any trustee compensation approved by the court. The trustee must return any excess amount to the debtor within 10 days after the court approves the trustee’s final application for compensation. The debtor must include the amounts paid under this Local Rule in the debtor’s proposed cash collateral budget.

B. Uncontested Confirmation Orders.

In a Chapter 12 case if the debtor complied with Local Rule 9013-1, or in a Chapter 9 or 11 case if the proponent submitted a summary of ballots and complied with Fed. R. Bankr. P. 2002(b)(2), the court may consider the requirement a hearing be held as met and may confirm the plan without further notice or hearing. 9 Rule 3023-1. Formula for Determining Value, as of the Effective Date of the Plan, for use in Chapters 9, 11, 12, and 13 A debtor who proposes to pay an interest rate on a secured claim equal to the prime rate published in The Wall Street Journal on the last day before the confirmation hearing, stated as a simple interest rate per annum plus 2 percentage points, is presumed to be paying the present value of the secured creditor’s claim for any confirmation purpose, and any creditor who objects to the presumed rate has the burden of proof by a preponderance of the evidence on the appropriate interest rate. A Chapter 13 plan must state the specific interest rate to be paid to a creditor.