Local Rule 6008-1: Redemption of Property in Chapter 7 Cases
Bankr. D. Alaska — General rule
Rule 6008-1 Redemption of Property in Chapter 7 Cases
(a) General. Approval of redemption agreements under § 722 of the Code is by motion filed by the debtor and governed by Rule 9013, Federal Rules of Bankruptcy Procedure.
(b) Motion. A motion for approval of a redemption agreement must contain the following: (1) a complete description of the article to be redeemed; (2) have attached— [A] a copy of the security agreement, and [B] evidence of perfection of the security interest, if perfection is required under otherwise applicable law; (3) the redemption price; (4) [A] fair market value of the property to be redeemed, and [B] method by which the fair market value was determined; and (5) if the fair market value of the property exceeds the redemption price, a certification that the excess of the fair market value over the redemption price is exempt under § 522 of the Code.
(c) Service of the Motion. The motion must be: (1) transmitted to the United States trustee; and (2) served on— [A] the trustee, and [B] any creditor affected by the redemption.
(d) Objection.
(1) An objection to a motion to redeem property must be served and filed not later than twenty-one (21) days after the motion is transmitted and served as provided in subsection (c).
(2) If an objection is filed, either party may submit a Calendar Request (AK LBF 7) as provided in AK LBR 9075-1(b).
(3) Except as provided in subsection (e), if no objection is served and filed within the time provided in paragraph (1), the motion will be deemed approved without further order of the court.
(e) Hearing.
(1) Represented Debtor. Unless otherwise ordered by the court, if the debtor is represented by counsel, in the absence of an objection to the motion, no hearing on the motion is required.
(2) Unrepresented Debtor. In a case in which the debtor is not represented by counsel, the party filing the motion must, at the same time the motion is filed, submit a Calendar Request (AK LBF 7) as provided in AK LBR 9075-1(b).