FINAL REPORT AND ACCOUNT AND CLOSING REPORT IN A CHAPTER 7 CASE – Amended [August 1, 2013]
- Final Report and Account. Unless the Court orders otherwise, the notice given by the trustee of the filing of a final report and account in the form prescribed by the United States Trustee in a chapter
7 case shall have on its face in bold type the following language, or words of similar import:
A person seeking an award of compensation or reimbursement of expenses shall file an application with the clerk and serve a copy on the trustee and the United States Trustee not later than twenty-one (21) days prior to the date of the hearing on the trustee's final account. Failure to file and serve such an application within that time may result in the disallowance of fees and expenses.
- Closing Report in an Asset Case. Unless the Court orders otherwise, in a chapter 7 asset case, the trustee shall file and serve upon the United States Trustee, together with the affidavit of final distribution, a closing report substantially in the form available on the Court’s website (http://www.nysb.uscourts.gov/sites/default/files/5009-1-b-report.docx).
- Closing Report in a No Asset Case. In a chapter 7 no asset case, the trustee shall file
a No Distribution Report as a virtual docket text entry in accordance with the guidelines promulgated by the Office of the United States Trustee.
Subdivision (a) of this rule is derived from former Standing Order M-90.
Subdivisions (b) and (c) of this rule, added in 1996, complement section 704(9) of the Bankruptcy Code. Although not specifying a particular time period, subdivision (b) of this rule contemplates that the trustee will file the closing report as soon as practicable after the filing of a final account and the final allowance of fees. Thereafter, the Clerk may close the case upon the entry of a final decree.
Subdivision (a) of this rule was amended in 2009 to change the time period from twenty (20) to twenty-one (21) days. The purpose of the amendment was to conform the time period in this rule to the 2009 time-related amendments to the Federal Rules of Bankruptcy Procedure. Throughout the Bankruptcy Rules, as well as the Local Bankruptcy Rules, most time periods that are shorter than thirty (30) days were changed so that the number of days is in multiples of seven, thereby reducing the likelihood that time periods will end on a Saturday or Sunday.
Subsection (c) of this rule was amended in 2013 to clarify that a separate form need not be attached to the “No Distribution” docket entry in a no asset chapter 7 case.