Local Rule L.B.R. 3016-2: Special Expedited Consideration of Prepackaged Funded Debt Plans
Bankr. N.D. Tex. — Civil rule
L.B.R. 3016-2 Special Expedited Consideration of Prepackaged Funded Debt Plans.
(a) Authorization.
Where there has been solicitation of votes on a Funded Debt Plan prior to the commencement of a case on at least 28 days' notice to the debtor, U.S. Trustee, all creditors, all equity security holders, and all other parties required by Bankruptcy Rule 2002, the court may, after considering any objections to the Funded Debt Plan, hold a hearing and confirm the Funded Debt Plan on an expedited basis. The proponent of the Funded Debt Plan shall contact the Bankruptcy Clerk to coordinate a hearing date and objection deadline.
(b) Notice.
The Funded Debt Plan shall be mailed with the notice of the hearing to at least the debtor, Funded Debt holders, secured creditors, the 30 largest general unsecured creditors, equity security holders, and interested governmental entities. The notice of the hearing shall also be published in a national publication and an international publication to the extent the debtor operates internationally.
(c) Pleadings.
All first-day pleadings relating to the Funded Debt Plan shall be posted on a public forum at least 24 hours before the hearing to consider confirmation of the Funded Debt Plan. The website address or other instructions for accessing such public forum shall be included in the notice described paragraph (b) of this rule.
(d) Objections.
Notwithstanding Local Bankruptcy Rule 3020-1, objections to the Funded Debt Plan shall be served on the proponent of the Funded Debt Plan within 5 days of the hearing to confirm the Funded Debt Plan; upon the commencement of the case, the proponent of the Funded Debt Plan shall cause to be filed with the court any objections to the Funded Debt Plan that were submitted by parties in interest and received prior to the commencement of the case.
(e) Voting Report Notwithstanding Local Bankruptcy Rule 3018-1, the ballot certification described therein may be filed at any time before the hearing on confirmation of a Funded Debt Plan.