This post lists a few recent developments: 2019 changes to the Bankruptcy Code and Rules; some local opinions of note; and an update on interest rates. More detailed posts on some of these topics will be published in the coming weeks.
If the debtor filed a petition between Dec. 1 and Dec. 10, 2017, then as of the date of this post, the creditors’ bar date has passed. Creditors, if you didn’t file a proof of claim in those cases, it’s too late. Debtors attorneys, do you know when you may file claims on behalf of creditors? Read on.
This post includes a little bit of information on several topics:
– last week’s increase in the prime rate of interest;
– bar dates in cases that convert to chapter 13;
– estimating trustee’s fees in the plan;
– problems with 522(f) lien avoidance calculations in the plan.
Here is a brief summary of the changes to federal and EDKY local rules and forms that become effective starting in cases filed Friday, December 1.
Amended Rule 3007, effective December 1, 2017, will impose stricter notice and service requirements for objecting to claims. Continue reading to learn about the new rules governing claim objections.
Effective with cases filed on or after December 1, 2017, creditors will have only 70 days from the petition date within which to file proofs of claims (not 90 days from the 341 date). In addition, the bar date will apply to secured creditors as well as unsecured creditors. Read on for more information.
A reminder to register if you would like to attend a free training session on the new rules and forms.
It’s time to learn about the new federal and local bankruptcy rules and forms that will be effective for cases filed on or after December 1, 2017. I’m offering free training for attorneys and staff in Ashland, Corbin, Covington, Pikeville, and Lexington. Continue reading for the schedule and to register for one of the sessions.
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.
Read on, and learn about the July 15 deadline for commenting on the proposed local chapter 13 plan and other local rules and forms.