Local Rule 3021: POST-CONFIRMATION REQUIREMENTS IN CHAPTER 11 CASES
Bankr. E.D.N.Y. — General rule
Rule 3021 POST-CONFIRMATION REQUIREMENTS IN CHAPTER 11 CASES
(a) Timetable for Achieving Substantial Consummation.
Within 14 days after the entry of an order confirming a chapter 11 plan, the plan proponent or other responsible person under the plan shall file on presentment in accordance with Local Bankruptcy Rule 2002-1 a proposed order that shall contain a timetable with the steps proposed for achieving substantial consummation of the plan and entry of a final decree, including resolution of claims and resolution of avoidance and other bankruptcy court litigation outstanding or contemplated. The law firms or individuals responsible for safeguarding and accounting for the proceeds of all recoveries on behalf of the estate shall be identified therein.
(b) Reporting Requirements The plan proponent or responsible person under the plan shall file a report whenever necessary, but no less than every 6 months after the entry of the order issued in accordance with subdivision (a) of this rule, identifying the actions taken under the order, the location of and steps taken to protect any funds or other property recovered on behalf of the estate, and any necessary revisions to the timetable.
(c) Requirements of Liquidating Plan A liquidating plan shall specify what steps the trustee shall take to monitor and ensure the safety of the trusts' assets and any requirement for a bond under the plan or confirmation order.