LOCAL BANKRUPTCY RULES

Rule 3020-1

TIME FOR OBJECTING TO CONFIRMATION IN CHAPTER 9 AND CHAPTER 11 CASES; WITHDRAWAL OF OBJECTIONS

(a) Objections to Confirmation. Unless the Court orders otherwise, objections to confirmation of a plan shall be filed not later than three days prior to the first date set for the hearing to consider confirmation of the plan.

(b) Withdrawal of Objections. In the event of the withdrawal of an objection to confirmation of a plan or the failure to prosecute an objection, the plan shall not be confirmed unless the proponent has disclosed to the Court the terms of any agreement reached between the proponent and the objecting party resulting in the withdrawal or failure to prosecute.

 

Comment

This rule is derived from Former Local Bankruptcy Rule 57. Subdivision (a) of this rule designates a fixed time for objecting to confirmation as permitted by Bankruptcy Rule 3020(b)(1). Subdivision (b) of this rule requires disclosure of the circumstances surrounding the withdrawal of, or failure to prosecute, any objections to confirmation. The purpose of this rule is to allow the Court to determine the propriety of any agreement between the proponent and an objecting party that results in the withdrawal of, or failure to prosecute, an objection.

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