FINAL DECREE IN CHAPTER 11 REORGANIZATION CASE
(a) After confirmation of a plan and prior to closing a case, the debtor, or a trustee in the event the trustee is distributing plan payments, shall provide certain statistical information to the clerk, including:
(1) Percent of dividend to be paid;
(2) Amounts paid or to be paid for:
Trustee compensation
Attorney for trustee
Attorney for debtor
Other professionals (e.g. accountant, bookkeeper, auctioneer, etc)
All expenses, including trustee's;
(3) Total amounts for claims allowed (listed separately):
Secured
Priority
Unsecured
Equity security holders.
(b) A final decree closing the case after the estate is fully administered does not affect the right of the court to enforce or interpret its own orders.
(c) Chapter 11 Subchapter V Proceedings. Unless extended by the Court, on or before the later of 30 days after the granting of a discharge in a case under chapter 11 subchapter V (Small Business Debtor Reorganization), or 30 days after the disposition of all adversary proceedings or contested matters, the debtor shall file a motion for final decree. In a subchapter V case where a plan is confirmed pursuant to 11 U.S.C. § 1191(b), the party responsible for making plan payments shall file a notice with the Court upon completion of all required plan payments.
(d) Chapter 11 Non-Subchapter V Proceedings.
(1) Non-Individual Debtors. Unless extended by the Court, on or before the later of 30 days after the effective date of the plan in a case under chapter 11, or 30 days after the disposition of all pending contested matters, the debtor shall file a certificate of substantial consummation together with a motion for final decree.
(2) Individual Debtors.
(A) Closing. After the entry of an order of confirmation and the disposition of all pending contested matters, individual debtors may file a motion to close the chapter 11 case.
(B) Motion to Reopen for Purpose of Obtaining Discharge and Final Decree. The debtor may move to reopen the case for the purpose of obtaining a discharge and entry of a final decree after the completion of all payments under the plan, or for the purpose of seeking a hardship discharge. The motion to reopen shall comply with LBR 4004-1.
RELATED AUTHORITY
11 U.S.C. § 350
Fed. R. Bankr. P. 3022
Advisory Committee Notes:
Entry of a final decree closing a chapter 11 case should not be delayed solely because the payments required by the plan have not been completed. Fed. R. Bankr. P. 3022.
Upon request, the clerk will furnish a chapter 11 form for the required closing statistical information. The form can be viewed at www.id.uscourts.gov.
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