Notice Of Debtors Motion To Value Collateral And To Avoid Interest {LBF K}

LBF-K - NOTICE OF THE DEBTOR’S MOTION TO VALUE COLLATERAL AND TO AVOID SECURITY INTEREST PURSUANT TO 11 U.S.C. § 506 AND HEARING THEREON. This form is used in a bankruptcy case filed in the United States Bankruptcy Court for the District of Maryland. It is used to inform creditors and other interested parties that the debtor (or "movant") has filed a motion seeking to determine the current value of certain collateral and to avoid a security interest held by a creditor (the "respondent") based on that valuation. Under 11 U.S.C. § 506 of the Bankruptcy Code, a debtor may request the court to strip down or eliminate a lien if the collateral securing the debt is worth less than the amount owed on senior liens. This notice outlines the debtor’s request and alerts the respondent that they have the right to oppose the motion by filing a timely written response. If no objection is filed, the court may grant the relief without a hearing. If a response is filed on time, the court will hold a hearing on the date, time, and location specified in the notice. The form includes a certificate of service to confirm that all required parties received proper notice of the motion and hearing, in accordance with federal and local bankruptcy rules. www.FormsWorkflow.com