Local Rule LBR 2015-7: Monthly Operating Reports

LBR 2015-7. Monthly Operating Reports

(a) Cases in Which Reports Are Required. Monthly operating reports shall be filed by the trustee or debtor in possession in the following cases: (1) all cases under chapter 11; (2) chapter 7 cases, where the trustee is operating a business; and (3) chapter 12 and chapter 13 cases, if the court so orders.

(b) Filing Deadline. Each required monthly operating report shall be filed not later than the 20th day of the month following the month to which the report pertains. A separate report must be filed for each calendar month, or portion thereof, during which the case is pending, up to and including the month in which an order of confirmation or dismissal is entered.

(c) Service of Reports. A copy of each monthly report must be served, not later than the day upon which it is filed with the court, upon the Office of the United States Trustee, the chair and counsel of record of each committee of creditors and each committee of equity security holders appointed in the case, and such other persons or entities as may be ordered by the court. Reports in a chapter 12 or chapter 13 case must be served on the trustee.

(d) Form and Content of Reports.

(1) Unless the court orders otherwise, monthly operating reports must include an accrual basis profit and loss statement, a balance sheet, and a statement of receipts and disbursements.

(2) Any motion to modify this requirement must be served on all parties upon whom the monthly operating report is required to be served.

(e) Certificate of Counsel. Each required monthly operating report must be accompanied by a certificate of the debtor's or trustee's attorney that the attorney has reviewed the report and that it has been prepared in compliance with this rule. Counsel's certificate shall not be deemed a representation by counsel that the entries in the report are accurate or that the report has been prepared in compliance with applicable accounting standards and principles.