IMPLEMENTATION OF CHANGES TO BANKRUPTCY RULES 3001(c) and 3002.1 WEBINAR is available for you to watch. FREE to non-members for 1 week! (offer ends 12/10/2011).
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Federal Bankruptcy Rule Changes Effective December 1, 2016 RULE DESCRIPTION . 1010: Service of Involuntary Petition and Summons . Amended to remove reference to service. rule 3002.1. notice Relating to Claims Secured by Security Interest
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· Compliance and Disclosure Interpretations (UPDATED 09/22/16); Staff Legal Bulletin No. 3A June 18, 2008 (UPDATED 06/18/08) Section 3(a)(10) exemption from the Securities Act’s registration requirements and the resale status of securities received in transactions exempt from registration pursuant to Section 3(a)(10) (Revised).
· Recognizing the difficulty required to implement these requirements, the CFPB has provided for an 18-month implementation period for the successor in interest rules. Nevertheless, servicers would be well-advised to begin digesting and planning out the necessary system and operational changes necessary for implementation as soon as possible.
any attachments required by Rule 3001(c)(1) and (d) – such as the note (with any endorsement or allonge), mortgage or deed of trust, and relevant assignments or supporting documents – are filed as a supplement to the holder’s claim not later than 120 days after the bankruptcy filing date.
New Bankruptcy Rule 3002.1 Events . New Bankruptcy Rule 3002.1, effective December 1, 2011, provides a process for a Chapter 13 debtor to cure a default and maintain payments on a home mortgage during the plan. It applies to claims that are (1) secured by a security interest in the debtor’s principal residence; and (2)
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IMPLEMENTATION OF CHANGES TO BANKRUPTCY RULES 3001(c) and 3002.1 WEBINAR till 12/9/11 A recent case from the U.S. Bankruptcy Court for the District of Vermont handed down what may be the first instance of punitive sanctions under federal bankruptcy rule of Procedure 3002.1.
The Court is currently in the process of reviewing its local chapter 13 plan form for necessary edits. As the Court continues its review, practitioners are invited to submit any suggestions for edits, corrections, or the like, in writing to Adrienne Atkins, Clerk of Court, U.S. Bankruptcy Court, Central District of Illinois, 600 East Monroe Street, Room 226, Springfield, Illinois 62701, or via.