Rule 3018 Federal Rules of Bankruptcy Procedure
Rule 3018 of the Federal Rules of Bankruptcy Procedure is about Chapter 9 or 11—Accepting or Rejecting a Plan. It is under Part III (Claims and Distribution to Creditors and Equity Interest Holders; Plans) of the Rules.
(a) In General.
(1) Who May Accept or Reject a Plan. Within the time set by the court under Rule 3017, 3017.1, or 3017.2, a claim holder or equity security holder may accept or reject a Chapter 9 or Chapter 11 plan under § 1126.
(2) Claim Based on a Security of Record. Subject to (b), an equity security holder or creditor whose claim is based on a security of record may accept or reject a plan only if the equity security holder or creditor is the holder of record:
(A) on the date the order approving the disclosure statement is entered; or
(B) on another date the court sets:
(i) under Rule 3017.2; or
(ii) after notice and a hearing and for cause.
(3) Changing or Withdrawing an Acceptance or Rejection. After notice and a hearing and for cause, the court may permit a creditor or equity security holder to change or withdraw an acceptance or rejection.
(4) Temporarily Allowing a Claim or Interest. Even if an objection to a claim or interest has been filed, the court may, after notice and a hearing, temporarily allow a claim or interest in an amount that the court considers proper for voting to accept or reject a plan.
(b) Treatment of Acceptances or Rejections Obtained Before the Petition Was Filed.
(1) Acceptance or Rejection by a Nonholder of Record. An equity security holder or creditor who accepted or rejected a plan before the petition was filed will not be considered to have accepted or rejected the plan under § 1126(b) if the equity security holder or creditor:
(A) has a claim or interest based on a security of record; and
(B) was not the security’s holder of record on the date specified in the solicitation of the acceptance or rejection.
(2) Defective Solicitations. A holder of a claim or interest who accepted or rejected a plan before the petition was filed will not be considered to have accepted or rejected the plan if the court finds, after notice and a hearing, that:
(A) the plan was not sent to substantially all creditors and equity security holders of the same class;
(B) an unreasonably short time was prescribed for those creditors and equity security holders to accept or reject the plan; or
(C) the solicitation did not comply with § 1126(b).
(c) Form for Accepting or Rejecting a Plan; Procedure When More Than One Plan Is Filed.
(1) Form. An acceptance or rejection of a plan must:
(A) be in writing;
(B) identify the plan or plans;
(C) be signed by the creditor or equity security holder—or an authorized agent; and
(D) conform to Form 314.
(2) When More Than One Plan Is Distributed. If more than one plan is sent under Rule 3017, a creditor or equity security holder may accept or reject one or more plans and may indicate preferences among those accepted.
(d) Partially Secured Creditor. If a creditor’s claim has been allowed in part as a secured claim and in part as an unsecured claim, the creditor may accept or reject a plan in both capacities.
