Rule 3017.1 Federal Rules of Bankruptcy Procedure
Rule 3017.1 of the Federal Rules of Bankruptcy Procedure is about Disclosure Statement in a Small Business Case or a Case Under Subchapter V of Chapter 11. It is under Part III (Claims and Distribution to Creditors and Equity Interest Holders; Plans) of the Rules.
(a) Conditionally Approving a Disclosure Statement. This section (a) applies in a small business case or in a case under Subchapter V of Chapter 11 in which the court has ordered that § 1125 applies. The court may, on motion of the plan proponent or on its own, conditionally approve a disclosure statement filed under Rule 3016. On or before doing so, the court must:
(1) set the time within which the claim holders and interest holders may accept or reject the plan;
(2) set the time to file an objection to the disclosure statement;
(3) if a timely objection is filed, set the date to hold the hearing on final approval of the disclosure statement; and
(4) set a date for the confirmation hearing.
(b) Effect of a Conditional Approval.
Rule 3017(a)–(c) and (e) do not apply to a conditionally approved disclosure statement. But conditional approval is considered approval in applying Rule 3017(d).
(c) Time to File an Objection; Date of a Hearing.
(1) Notice. Notice must be given under Rule 2002(b) of the time to file an objection and the date of a hearing to consider final approval of the disclosure statement. The notice may be combined with notice of the confirmation hearing.
(2) Time to File an Objection to the Disclosure Statement. An objection to the disclosure statement must be filed before it is finally approved or by an earlier date set by the court. The objection must be served on:
· the debtor;
· the trustee;
· any appointed committee; and
· any other entity the court designates.
A copy must also be sent to the United States trustee.
(3) Hearing on an Objection to the Disclosure Statement. If a timely objection to the disclosure statement is filed, the court must hold a hearing on final approval either before or combined with the confirmation hearing.
