Local Rule 2015-4: Duty of Debtor in Chapter 11 Case
Bankr. S.D. Ill. — General rule
L.R. 2015-4 – Duty of Debtor in Chapter 11 Case. A. Operating Reports. Chapter 11 debtors shall provide monthly operating reports to counsel for the Unsecured Creditors Committee and upon request, to any creditor.
B. Insurance Requirements - Debtor-in-Possession.
1. General Requirements. All debtors in a chapter 11 case in which no Trustee has been appointed shall:
a. insure all estate assets against physical damage and loss with policy limits covering the asset values stated in the debtor's schedules;
b. if applicable, maintain liability coverage for the debtor's operations and businesses;
c. if applicable, and as appropriate or customary for the debtor's industry, maintain additional types of insurance (workers compensation, products liability, or professional liability); and d. require insurer(s) to notify the United States Trustee of any insurance claims or lapses of coverage.
2. Proof of Insurance. Upon request of any party, the Trustee, or the United States Trustee, the debtor shall provide proof of insurance, which shall include a certificate of insurance, binder, or other document(s) from the insurance carrier stating amounts, types and period of coverage, and notification of any secured party as loss payee. Failure to provide such proof shall give rise to a presumption that no insurance is in effect.