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Chapter 11 Notice and Report on Entities in Which a Chapter 11 Estate Holds Interest

Official Procedure Last Change December 1, 2017

Chapter 11 Notice and Report on Entities in Which a Chapter 11 Estate Holds Interest

How to file: 

Location of events:

  • FRBP 2015.3

General Information

  • In a Chapter 11 case, a financial report should be filed if an entity in which the estate holds a 20% or greater interest is presumed to be one in which the debtor-in-possession has “a substantial or controlling interest.”   The debtor-in-possession or trustee has to give notice of the fact that these reports will be filed, and that notice goes to the entity involved AND to all holders of an interest in that entity who are known to the debtor-in-possession/trustee.
  • ‘Periodic’ financial reports should be filed before the first meeting of creditors and then at least semi-annually.
  • The Notice shall be filed by the debtor-in-possession or trustee no later than fourteen days before filing the first report. The notice establishes that the trustee or debtor in possession expects to file and serve financial information relating to the entity in accordance with this rule. The first report shall be filed no later than seven days before the first date set for the meeting of creditors. Subsequent reports shall be filed no less than every six months until the effective date of the plan or the case is dismissed or converted.

Filing requirements 

  • The reports should include “the value, operations, and profitability of each entity that is not a publicly traded corporation or a debtor in a case under title 11, and in which the estate holds a substantial or controlling interest.”
  • The reports shall be prepared in accordance with Official Form 426 and be based upon the most recent information reasonably available to the trustee or debtor-in-possession.  Modification of reporting requirement may be established by the Court upon filing of a motion by an entity and a subsequent hearing.
  • Copies of the Notice should be served on the U.S. Trustee, any committee appointed under § 1102 of the Code, and any other parties of interest that has requested notice.

Step-by-Step Instructions to file Notice of Report on Entities (See below for instructions on filing Report
on Entities)

1. Log into CM/ECF.

2. Select Bankruptcy > Notices & Certifications.

3. Enter case number (in the format xx-xxxxx) and click Next.

4. Select Report on Entities in Which Ch 11 Estate Holds Interest Pursuant to FRBP 2015.3, Notice of from the event list and click Next.

5. Check box if jointly filing with another attorney, click Next. If jointly filing, select additional attorneys, click Next.

6. Select the party filer. If the party is not listed, or cannot be selected, view instructions on adding a new party. Click Next.

Note: The "Attorney/Party Association” screen may appear. If your party selection was correct, check the box to create an association and click Next.

7. Browse to select the document to be filed (pdf file). Click Next.

8. Select prefix text, if applicable, and click Next.

9. Verify the final docket text; if correct, click Next to submit your document(s).

Note: The Notice of Electronic Filing displays giving you the document number. Copies of this notice are immediately e-mailed to all participants who receive electronic notification in the case.

 

Step-by-Step Instructions to file Report on Entities

1. Log into CM/ECF.

2. Select Bankruptcy > Miscellaneous.

3. Enter case number (in the format xx-xxxxx) and click Next.

4. Select Report on Entities in Which 11 Estate Holds Interest Pursuant to FRBP 2015.3 from the event list and click Next.

5. Check box if jointly filing with another attorney. Click Next.

6. If you indicated that you are filing jointly with other attorney(s), select additional attorney(s) and click Next.

Note: You cannot add attorneys. Only attorneys who have previously entered an appearance will be available for selection.

7. Select the party filer. If the party is not listed, or cannot be selected, view instructions on adding a new party. Click Next.

Note: The "Attorney/Party Association” screen may appear. If your party selection was correct, check the box to create an association and click Next.

8. Browse to attach the document to be filed (pdf file). Click Next.

9. If a Notice of Report has not been filed, a message will reflect that a notice has not been docketed. If a Notice of Report has been filed, the Notice must be related to your report. (Box should be checked.) Click Next.

10. Select prefix text, if applicable, and click Next.

11. Verify final docket text. If correct, click Next to submit.

Note: The Notice of Electronic Filing displays giving you the document number. Copies of this notice are immediately e-mailed to all participants who receive electronic notification in the case.