Changes to Bankruptcy Rules (Effective 12/1/07)

15 Dec Changes to Bankruptcy Rules (Effective 12/1/07)

The Federal Rules of Bankruptcy Procedure have changed. effective December 1, 2007. I recently received an excellent summary of the changes from the Clerk’s Office, which I’ve used as the basis for this blog.

Rule 1014. Now states explicitly that the Court can order a change of venue on its own motion.

Rule 3007. Prohibits a party from including in an objection to a Proof of Claim a request for relief that should instead be brought through an adversary procedure. It also allows an omnibus objection to up to 100 claims in a single motion. This is limited as to the nature of the objection, formatting, etc.

Rule 4001. Increases the notice requirements for motions to approve agreed modifications to the automatic stay, cash collateral motions, motions to borrow and other agreed orders.

Rule 6003. This new rule limits the granting of first day orders (those to be granted within the first 20 days after the case is filed), such as motions to employ; motions to use or sell property; and motions to assume/reject executory contracts. There is an exception where relief is necessary to avoid immediate and irreparable harm.

Rule 6006. Authorizes omnibus motions to reject, assume or assign executory contracts. Motions nw must contain specific information intended to to ensure due process.

Rule 7007.1. Parties must file the corporate ownership statement with the first “paper” filed in a case, rather than the first “pleading”.

Rule 9037. This new rule deals with privacy rights. The filer of documents must include only the last four digits of social security numbers, only the year of birth (rather than the full birthdate), only the initials of minors, and only the last four digits of account numbers. The rule requires a motion and order to redact or seal previously filed documents containing this information.

Related Posts Plugin for WordPress, Blogger...
The following two tabs change content below.
Brett Weiss, a senior partner at The Weiss Law Group, LLC, represents people and businesses in all phases of bankruptcy. He has experience in complex individual Chapter 7, Chapter 11, and Chapter 13 bankruptcy cases, and in Chapter 11 small business restructuring and reorganization. Mr. Weiss lectures nationally on bankruptcy issues. He has testified before the Federal Bankruptcy Rules Committee, the Consumer Financial Protection Bureau, and has twice testified before Congress on bankruptcy and credit issues. Brett Weiss is the co-author of Chapter 11 for Individual Debtors, and has written Not Dead Yet: Bankruptcy After BAPCPA, for the Maryland Bar Journal, as well as hundreds of blogs for the Bankruptcy Law Network. With his colleague, Daniel Press, he recorded a 13-hour basic bankruptcy training series, and leads intensive three-day Chapter 11 training boot camps. Mr. Weiss has received international media attention in connection with his work. He was interviewed by Barbara Walters on The View, has appeared on the Today Show, Good Morning America, ABC News with Peter Jennings, the Montel Williams Show, National Public Radio, AARP-TV, the BBC World Service, German state television, and numerous local radio and television programs, and been quoted in Money magazine, The Washington Post and The Baltimore Sun, among others. Brett Weiss is the previous Maryland State Chair for the National Association of Consumer Bankruptcy Attorneys, a founding member of the Bankruptcy Law Network, on the board of the Maryland State Bar Consumer Bankruptcy Council, and a member of the American Bankruptcy Institute and the Bankruptcy Bar Association of Maryland. He has received the Distinguished Service Award from the National Association of Consumer Bankruptcy Attorneys for his work on behalf of consumers across the country. Mr. Weiss is admitted to practice before Maryland and District of Columbia federal and state courts, the United States Courts of Appeals for the DC, Fourth and Eighth Circuits, the United States Tax Court, and the Supreme Court of the United States, and has been practicing law since 1983.
No Comments

Sorry, the comment form is closed at this time.