FULL ADMINISTRATION IN A SUBCHAPTER V CASE

(a) Applicability. This LBR only applies to cases proceeding under subchapter V of chapter 11 of the Bankruptcy Code. (b) Consensual Plan. (1) (2) Subchapter V Final Report and Account.

Within 60 days after the final distribution to creditors under a consensual plan, the debtor must file with the Court, and serve upon all parties upon whom the plan was served, a subchapter V final report and account of administration of the estate (UST Form 101-11(V)-FR) (“Subchapter V Final Report and Account”), whereupon the debtor must seek entry of a final decree closing the case. Final Decree. After the debtor has filed its Subchapter V Final Report and Account, the debtor must file a motion for final decree pursuant to LBR 3022- 1(a) supported by a declaration under penalty of perjury showing that: (A) the services of the subchapter V trustee have terminated, (B) the estate has been 69 LBR 3022-2 fully administered, (C) all adversary proceedings, contested matters and other disputes, including appeals, have been resolved by a final, non-appealable order or dismissed, and (D) there are no remaining matters for which the Court must continue to exercise jurisdiction. The debtor must also lodge a proposed final decree.

Nothing herein is intended to prevent the debtor from seeking interim or early closure of the case. (c) Nonconsensual Plan. (1) (2) Subchapter V Final Report and Account. Within 60 days after the final distribution to creditors under a nonconsensual plan, the subchapter V trustee must file with the Court, and serve upon all parties upon whom the plan was served, a Subchapter V Final Report and Account of administration of the estate, whereupon the subchapter V trustee must seek entry of a final decree closing the case.

Final Decree. Upon the subchapter V trustee’s filing of a Subchapter V Final Report and Account in a case in which the plan is a confirmed nonconsensual plan, the subchapter V trustee must file a motion for final decree pursuant to LBR 3022-1(a) supported by a declaration under penalty of perjury showing that: (A) the estate has been fully administered, (B) all adversary proceedings, contested matters, and other disputes, including appeals, have been resolved by a final, non-appealable order or dismissed, and (C) there are no remaining matters for which the Court must continue to exercise jurisdiction. The subchapter V trustee must also lodge a proposed final decree. (3) Termination of the Subchapter V Trustee’s Services.

Upon entry of the final decree, the subchapter V trustee’s services will terminate. 70 LBR 4001-1