Local Rule 1003: Involuntary Petition

L.R. 1003 – Involuntary Petition. The burden to prosecute an involuntary petition rests with the petitioning creditors. Debtor shall file the schedules, statements and other documents required by Rule 1007 of the Federal Rules of Bankruptcy Procedure within 14 days of the entry of the order for relief. If debtor fails to do so, the petitioning creditors shall have 14 days thereafter to file the required schedules, statements and documents or a motion to appoint a responsible party to perform the duties of debtor. In the event the petitioning creditors fail to file either the required schedules and documents or a motion to appoint a responsible party, the Court may dismiss the involuntary petition for lack of prosecution.