DISCLOSURE STATEMENT - APPROVAL
- Upon the filing of the disclosure statement in cases under Chapter 11, the proponent of the plan shall serve copies of the disclosure statement and plan upon the debtor (if not the proponent), the debtor's attorney (if the debtor is not the proponent), the trustee (if any), the attorney for the creditors committee (if any), each member of the creditors committee, the 20 largest unsecured creditors if no creditor’s committee has been appointed, the Internal Revenue Service, the Securities and Exchange Commission, the U.S. Trustee, and all parties in interest who have filed with the Clerk a request for notices pursuant to Bankruptcy Rule 2002. A certificate of such service shall be filed with the Clerk.
- The attorney for the plan proponent shall send copies of the disclosure statement and plan to any other party in interest who requests a copy.
- Objections to the proposed disclosure statement shall be filed and served on the debtor, the debtor's attorney, the attorney for the proponent of the plan (if other than the debtor), the U.S. Trustee, and all parties entitled to be served copies of the disclosure statement and plan as listed above at least seven (7) days prior to the hearing on the disclosure statement. Any objections not timely filed shall be deemed waived.
Advisory Committee Notes
The amended rule includes both stylistic and substantive changes. The format of subdivisions is changed to maintain a consistent style across all rules. Subdivision (A) is amended to remove any reference to the applicable department or office for the Internal Revenue Service, given the possibility of reorganization. At the time of this amendment, the appropriate office for service on the IRS is either the Centralized Insolvency Operation or, if applicable, the appropriate local Field Insolvency office. The address information for the Securities and Exchange Commission has been removed for similar reasons. Governmental mailing addresses may be obtainable through the register identified in Bankruptcy Rule 5003(e), which includes a conclusive presumption of proper addressing if mailed to the address on the register. Subdivision (B) is amended to preclude the plan proponent from charging for delivery of the disclosure statement and plan.