Local Rule 2014-2: Contract for Employment of Agents and Brokers

2014-2. Contract for Employment of Agents and Brokers.

(a) All applications for employment of an agent or broker for the sale or lease of estate property must be accompanied by a copy of the signed written contract employing the agent or broker. All contracts for employment must provide that they are effective only upon Court approval and must be for a term not to exceed 6 months. A contract for employment must not contain an arbitration provision or other provisions inconsistent with employment as a bankruptcy professional.

(b) To the extent the aggregate compensation and expenses of the agent or broker exceed $1,500, a trustee or debtor-in-possession must give the notice required by LBR 2002-2(a)(6). Otherwise, the compensation and expenses may be paid without further notice, subject to final review pursuant to 11 U.S.C. § 330.