Local Rule LBR 2015-2: Appointment of Subchapter V Trustee

LBR 2015-2. Appointment of Subchapter V Trustee Unless the court orders otherwise, the debtor must tender to the Subchapter V Trustee the sum of $1,000 no later than 14 days after the filing of the Notice of Appointment of Subchapter V Trustee. Any party in interest may file a motion to adjust the amount of the deposit. The debtor shall include the deposit in any cash collateral budget. The Subchapter V Trustee must hold these funds in escrow for the purpose of compensation for services rendered and reimbursement for expenses. Payment of compensation and reimbursement to the Subchapter V Trustee from the escrowed funds is subject to allowance and approval by the court under sections 503(b), 330, 331 and 1194 of the Bankruptcy Code, Bankruptcy Rule 2016 and LBR 2016-1. Failure of the debtor to tender the required amount within 14 days after the filing of the Notice of Appointment is cause for dismissal of the case.