Local Rule 3015(a)-1: CHAPTER 12-PLAN
Bankr. W.D. La. — General rule
3015(a)-1 CHAPTER 12-PLAN A. Filing a Chapter 12 Plan. When a Chapter 12 Plan is filed, the plan shall be submitted to the Clerk of Court. The petitioner must also comply with L.B.R. 1002-1. A Chapter 12 Plan must be filed within ninety (90) days of the date the petition was filed unless the court extends the time.
B. Liquidation Analysis. Under Section 1225(a)(4) of Chapter 12, the debtor must be able to prove at the hearing on confirmation of the Plan that the amount that will be distributed under the Plan for each allowed unsecured claim is not less than the amount that would be paid on the claim if the debtor were liquidated under Chapter 7. The debtor shall prepare an accurate analysis of the liquidation value of all of the property of the debtor's estate which the debtor shall present to the Chapter 12 Trustee at the Section 341 meeting. The liquidation analysis should also be filed in the case record on or before confirmation of the Plan.