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re: 1111(b) Election, Individual Chapter 11 Plan - Judge Zurzolo
If a creditor makes an 1111 b election, and you did not provide for the
possible election in the plan, you must amend the plan and ds.
The ds form refers the creditors to the plan for information about paying
secured claims, however, you must change the spreadsheets, or budgets
(whichever you have attached to the DS).
The plan form has three places into which you can place the treatment,
depending on what the collateral is. Class 2 is used if the collateral is
a residence of the debtor.
There are a couple of ways to show it is an 1111(b) treatment, you can put
it next to the name of creditor, and just put the numbers on the
appropriate lines, or I add a box, each are shown on the attached. Keep in
mind we are not supposed to add boxes, but I have done it. The safer way
is to just add after the name that the creditor elected, put the
appropriate numbers in, and be ready to explain to the judge, if the
creditor objects, which option you put in the plan and why.
You will also have to show what you did and why the math works in your plan
confirmation memo.
dennis
On Thu, Jan 24, 2013 at 2:56 PM, David S wrote:
> **
>
>
> Dear Listmates,
>
> If a creditor takes an 1111(b) election in an Individual Chapter 11 in
> front of Judge Zurzolo, what language does the Judge/Court want in the FORM
> Chapter 11 Plan (2081-1.Plan) and the FORM Disclosure Statement
> (2081-1.DIDCLSR.STMT) in order to ensure that the creditor's claim is fully
> provided for. There does not appear to be anywhere in the FORM Disclosure
> Statement to reference a Secured Creditor's 1111(b) election.
>
> If anyone has a sample plan/disclosure statement in Front of Judge Zurzolo
> using the required individual forms that was approved whereby a creditor
> took an 1111(b) election and the claim was treated as such in the plan I
> would really appreciate it.
>
> Regards,
>
> - David
>
> David S. Shevitz, Esq.
> Ure Law Firm
> 811 Wilshire Blvd. Suite 1000
> Los Angeles, CA 90017
> Telephone: (213) 202-6070
> Facsimile: (213) 202-6075
> Email: david@urelawfirm.com
> Website: www.urelawfirm.com
>
>
>
If a creditor makes an 1111 b election, and you did not provide for the possible election in the plan, you must amend the plan and ds.The ds form refers the creditors to the plan for information about paying secured claims, however, you must change the spreadsheets, or budgets (whichever you have attached to the DS).
The plan form has three places into which you can place the treatment, depending on what the collateral is. Class 2 is used if the collateral is a residence of the debtor. There are a couple of ways to show it is an 1111(b) treatment, you can put it next to the name of creditor, and just put the numbers on the appropriate lines, or I add a box, each are shown on the attached. Keep in mind we are not supposed to add boxes, but I have done it. The safer way is to just add after the name that the creditor elected, put the appropriate numbers in, and be ready to explain to the judge, if the creditor objects, which option you put in the plan and why.
You will also have to show what you did and why the math works in your plan confirmation memo.dennisOn Thu, Jan 24, 2013 at 2:56 PM, David S <dshevitzulf@yahoo.com> wrote:
Dear Listmates,
If a creditor takes an 1111(b) election in an Individual Chapter 11 in front of Judge Zurzolo, what language does the Judge/Court want in the FORM Chapter 11 Plan (2081-1.Plan) and the FORM Disclosure Statement (2081-1.DIDCLSR.STMT) in order to ensure that the creditor's claim is fully provided for. There does not appear to be anywhere in the FORM Disclosure Statement to reference a Secured Creditor's 1111(b) election.
If anyone has a sample plan/disclosure statement in Front of Judge Zurzolo using the required individual forms that was approved whereby a creditor took an 1111(b) election and the claim was treated as such in the plan I would really appreciate it.
The post was migrated from Yahoo.
Dear Listmates,
If a creditor takes an 1111(b) election in an Individual Chapter 11 in front of Judge Zurzolo, what language does the Judge/Court want in the FORM Chapter 11 Plan (2081-1.Plan) and the FORM Disclosure Statement (2081-1.DIDCLSR.STMT) in order to ensure that the creditor's claim is fully provided for. There does not appear to be anywhere in the FORM Disclosure Statement to reference a Secured Creditor's 1111(b) election.
If anyone has a sample plan/disclosure statement in Front of Judge Zurzolo using the required individual forms that was approved whereby a creditor took an 1111(b) election and the claim was treated as such in the plan I would really appreciate it.
Regards,
- David
David S. Shevitz, Esq.
Ure Law Firm
811 Wilshire Blvd. Suite 1000
Los Angeles, CA 90017
Telephone: (213) 202-6070
Facsimile: (213) 202-6075
Email: david@urelawfirm.com
Website: www.urelawfirm.com
The post was migrated from Yahoo.