Local Rule LBR 2015-2: Duties of Trustee or Debtor in Possession

Rule 2015 -2 Duties of Trustee or Debtor in Possession

(a) Chapter 11 and 13 Monthly Financial Reports. A chapter 13 business debtor as defined in 11 U.S.C. § 1304(a), or a chapter 11 debtor in possession, or a chapter 11 trustee must file with the court a monthly financial report signed under penalty of perjury, and served on the United States trustee and each member of any committee elected or appointed. Each report is due on the twenty-first (21st) day of the subsequent month. Except as otherwise ordered by the court, the report must include the following:

(1) statement of cash receipts and disbursements;

(2) statement of accrued receivables (disclosing amounts considered to be uncollectible);

(3) statement of post-petition accrued payables, including professional fees (listing the name of each creditor and the amounts owing and remaining unpaid for over thirty (30) days);

(4) tax disclosure statement (listing post-petition taxes due or tax deposits required, the name of the taxing agency, the amount due, the date due, and an explanation for any failure to make the required payments or deposits);

(5) compensation statement (disclosing the amount of compensation paid to all insiders, as defined in 11 U.S.C. § 101(31));

(6) schedule of current inventory (showing increases or decreases in inventory);

(7) schedule of insurance coverage;

(8) bank account reconciliations and/or bank statements; and

(9) check register listing all checks written and/or copies of cancelled checks.

(b) Chapter 11 Post-Confirmation Reports. If a chapter 11 plan proponent has not filed an application for a final decree within three (3) months after confirmation of the plan, it must file a post-confirmation report and provide a copy to the United States trustee by the end of the next calendar quarter and every three (3) months thereafter until a final decree has been entered. The post-confirmation report must disclose the plan's progress toward consummation, and must include the following:

(1) a summary, by class, of amounts distributed or property transferred to each recipient under the plan, and an explanation of the failure to make any distributions or transfers of property under the plan;

(2) debtor's projections as to its continuing ability to comply with the terms of the plan;

(3) a report of any pending or anticipated litigation, including the nature of each matter, the parties involved, and an estimated date when the matter will be resolved;

(4) a description of any other factors that may materially affect the debtor's ability to consummate the plan; and

(5) an estimated date when the application for final decree will be filed with the court.