Significant changes in the Federal Rules of Bankruptcy Procedure become effective on December 1, 2017. For example:
- Secured creditors will be required to file claims by the bar date.
- The bar date for most claims (secured and unsecured) will be 70 days after the petition date.
- The plan will need to be served like a complaint in an adversary proceeding if the plan values collateral or avoids liens.
- The chapter 13 plan will change.
Because of the forthcoming federal rule changes, the Bankruptcy Court for the Eastern District of Kentucky has published for comment its proposed new chapter 13 plan, other local forms, and changes to the KYEB Local Rules of Bankruptcy Procedure. The deadline for submitting comments is July 15, 2017.
We will spend time over the next several months discussing the new rules, but for now, it is important for everyone to review the proposed local forms and rule changes and submit comments before July 15, 2017.
Go to http://www.kyeb.uscourts.gov/news/proposed-amendments-local-rules-and-forms-and-comment-period-ending-july-15-2017 to read about the proposed changes, then follow the links to review the proposed local rules and forms. Follow the online links to submit comments by July 15.
If you want to get a head start on reading the federal bankruptcy rule changes, go to http://www.uscourts.gov/file/document/2017-04-27-congressional-package-rev-4-25-final-final-signed-letters-and-orders to download the entire 144-page transmission of all federal rule changes from the Supreme Court to Congress. The redlined changes to the Federal Rules of Bankruptcy Procedure can be found at PDF pages 59 through 91, with a few other changes at PDF pages 42 to 47.