Local Rule LBR 3012-2: Valuation of Personal Property and Non-Residential Real Property Collateral — Motions to Determine Secured Status and Limit Secured Claims

LBR 3012-2 Valuation of Personal Property and Non-Residential Real Property Collateral — Motions to Determine Secured Status and Limit Secured Claims

(a) Motions. All motions requesting that the court determine under 11 U.S.C. § 506(a) the amount of a claim secured by a lien on the debtor's personal property or non-residential real property and bifurcate the secured claim into secured and unsecured portions as permitted by 11 U.S.C. §§ 1322(b)(2) or 1123(b)(5), shall be filed as a motion, and not as an objection to a claim. The motion shall be titled "Motion to Determine Secured Status and Limit Secured Claim." Any motion shall contain a specific allegation stating the basis for the value of the personal property or non-residential real property asserted in the motion, and shall have supporting documentation filed with it.

(b) Exclusions. Motions to determine secured status and limited secured claims may address only valuation and the extent to which a claim is secured. Such motions shall not request approval of plan payment terms, e.g., interest rate and amount of monthly payments, nor shall such motions request the modification of any other rights of the holder of the secured claim, e.g., escrow for real estate taxes or insurance. Those requests shall be made in the plan.

(c) Service. The movant shall serve the motion in accordance with Bankruptcy Rule 7004, made applicable by Bankruptcy Rule 9014(b), particularly Bankruptcy Rule 7004(h), which requires that service on an insured depository institution be made by certified mail addressed to an officer of the institution.

(d) Timing. Movant shall serve the motion within thirty (30) days of the concluded 341 Meeting.