LBR 2015-2. REQUIREMENTS FOR CHAPTER 11 DEBTORS IN POSSESSION OR CHAPTER 11 TRUSTEES

LBR 2015-2. REQUIREMENTS FOR CHAPTER 11 DEBTORS IN POSSESSION OR CHAPTER 11 TRUSTEES

(a) Reports Before Confirmation of Plan.
(1) The debtor, the debtor in possession, or chapter 11 trustee must provide the United States trustee with financial, management and operational reports, and such other information requested by the United States trustee in writing pursuant to the United States Trustee Notices and Guides as necessary to properly supervise the
administration of a chapter 11 case.
(2) The United States trustee may, at any time during the pendency of a case, add or
delete requirements where such modifications are necessary or appropriate.
(b) Duty to Comply With Requirements of the United States Trustee Notices and Guides. A debtor in possession or chapter 11 trustee must comply with the reasonable requirements of the United States trustee with respect to form, maintenance of records, and reporting requirements as set forth in the United States Trustee Notices and Guides. Timely compliance is mandatory.
(c) Interim Statements and Operating Reports.
(1) The debtor in possession or chapter 11 trustee must file with the court a copy of
each monthly interim statement and operating report submitted to the United States
trustee from the date the chapter 11 case is commenced until the date a plan is
confirmed or the case is dismissed or converted to another chapter under title 11.
(2) Each interim statement and operating report must be filed on the date that such
documents are submitted to the United States trustee, but not later than the 15th
day of the month following expiration of the month which is the subject of the
statement or report.
(d) Duties Upon Conversion to Chapter 7. Upon entry of an order converting a case to one under chapter 7, the debtor in possession or chapter 11 trustee, if any, must, in addition to complying with those duties set forth in FRBP 1019:
(1) Secure, preserve and refrain from disposing of property of the estate;
(2) Contact the chapter 7 trustee and arrange to deliver property of the estate and all
books and records to the trustee or the trustee’s designated agent; and
(3) Within 7 days after entry of said order, file and serve upon the United States
trustee and the chapter 7 trustee, a verified schedule of all property of the estate
as of the conversion date.
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