November 7, 2011
Insolvency Law Committee Constituency List -- Bankruptcy e-Bulletin
November 7, 2011
Dear Insolvency Law Committee Constituency List members:
The purpose of this eBulletin is to provide information about the Office of the United States Trustee – Central District of California – Region 16’s recent implementation of new forms and requirement of electronic filing for debtor-in- possession compliance.
Effective September 1, 2011 in Los Angeles, with the San Fernando and Northern Divisions following on January 1, 2012, and the other divisions later this year and early next year, with their own revised procedures, the Office of the United States Trustee ("UST") has implemented procedures requiring the electronic submission of 7-Day Compliance Packages and Monthly Operating Reports. In addition, the UST has created a new set of forms.
The following summarizes the major changes with regard to the 7-Day Compliance Package for the Los Angeles Division Only:
1. The 7-Day Package Cover Sheet (USTLA-2) has been replaced by two forms: USTLA 3 and 4.
* USTLA-3 – Declaration of Debtor Re Compliance-- includes the Real Property Questionnaire ("RPQ"), information about pre-petition and debtor- in- possession bank accounts, and most of the information previously requested on USTLA-2. USTLA-3 requires attachments such as property-specific RPQ and insurance declaration pages.
* USTLA-4 -- Attorney's 7-Day Package Checklist--must now be signed by the debtor and debtor's counsel. Attachments to USTLA 4 include the 90-day Projected Cash Flow Statement and the Statement of Major Issues and Timetable Report. Most of the information listed on USTLA-4 will be set forth in USTLA-3 or the Declaration of Debtor Re Compliance.
2. The RPQ has changed; there are new forms for a residence and an Excel spreadsheet is required for cases with multiple properties.
3. In addition, the UST has revised the format for Monthly Operating Reports (MOR).
4. All 7-Day Packages and Monthly Operating Reports must be submitted to the OUST at the following e-mail address: email@example.com. The Instructions specifically state that the information should not be sent to any individual staff person or attorney's mailbox. The Instructions also require that signatures be imaged and electronically filed in PDF format.
The author is advised that the procedures for the San Fernando Valley Division together with the Northern Division, the Orange County Division, and the Riverside Division will ultimately differ from each other, as well as from those for the Los Angeles Division, once all divisions implement their procedures.
The Guidelines and Requirements for Chapter 11 Debtors-in-Possession (for Los Angles Division cases Only) and each of the forms can be downloaded at the UST website at http://www.justice.gov/ust/r16/reg_info.htm.
These materials were prepared by Elissa D. Miller, a member at SulmeyerKupetz, a professional corporation, in Los Angeles, California, and Co-Chair of the Insolvency Law Committee.
Thank you for your continued support of the Committee.
Insolvency Law Committee
The Insolvency Law Committee of the Business Law Section of the California State Bar provides a forum for interested bankruptcy practitioners to act for the benefit of all lawyers in the areas of legislation, education and promoting efficiency of practice. For more information about the Business Law Standing Committees, please see the standing committees web page.
TrackBack URL for this entry:
Listed below are links to weblogs that reference Insolvency Law Committee Constituency List -- Bankruptcy e-Bulletin: