Valuation of Collateral (updated February 10, 2017)

(a) Chapter 12 and Chapter 13 Cases. The value of collateral in all Chapter 12 and Chapter 13 cases shall be determined at the confirmation hearing and shall be incorporated into the Court's order confirming the plan. The values set by the debtors in their Chapter 13 plans may be adopted by the Court, unless a written objection is filed by the holder of the secured claim, and evidence concerning value is presented by the holder of the claim at the confirmation hearing. Any allegation of value contained in a proof of claim filed by a creditor shall not be deemed an objection to the debtor’s valuation.

(b) Expert Witnesses on Valuation. In all actions involving valuation of property by an expert witness, the party wishing to introduce the testimony of an expert witness shall serve on all parties in interest, so that it is received no later than seven days prior to the hearing or trial, a statement disclosing the identity of any expert witness it may use at trial or hearing to present evidence under F.R.Evid. 702, 703, or 705. Any such disclosure shall be accompanied by any written reports required under FRBP 7026 and F.R.Civ.P. 26(a)(2). A certificate of service shall be filed in the case indicating these documents were served on all parties in interest.

This 14 Back to TOC disclosure and any written reports required by FRBP 7026 and F.R.Civ.P. 26(a)(2) apply to contested matters, are due seven days prior to the hearing or trial, and are not subject to the 90- day disclosure deadline provided in FRBP 7026 and F.R.Civ.P. 26(a)(2)(D). The expert witness shall give oral testimony at the time of a hearing or trial, but not testify on direct examination except with leave of Court. The party wishing to introduce the valuation of property by an expert witness may, at the time of a hearing or trial, proffer a summary of the appraisal. The witness shall be sworn for the purposes of cross-examination by the adverse parties.

Objections to the qualifications of the expert witness shall be deemed preserved until cross-examination.