DISCLOSURE STATEMENT - SMALL BUSINESS
- In a small business case, a plan proponent may file a combined plan and disclosure statement, provided that the title of the document so indicates.
- Objections and Hearing on Final Approval. Notice of the time fixed for filing objections and the hearing to consider final approval of the disclosure statement shall be given in accordance with Bankruptcy Rule 2002 and may be combined with notice of the hearing on confirmation of the plan. Objections to the disclosure statement shall be filed, transmitted to the U.S. Trustee, and served on the debtor, the plan proponent, if not the debtor, the trustee, any committee appointed under the Bankruptcy Code and any other person or entity designated by the Court at any time before final approval of the disclosure statement or by an earlier date as the Court may fix. If a timely objection to the disclosure statement is filed, the Court shall hold a hearing to consider final approval before or combined with the hearing on confirmation of the plan.
- If a disclosure statement is conditionally approved under § 1125(f) subject to final approval after notice and a hearing, and no timely objection to the disclosure statement is filed, it is not necessary for the Court to hold a hearing on final approval.
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. Former subdivision (A) has been removed as duplicative of the applicable Bankruptcy Rule and all subdivisions have been correspondingly renumbered.