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Chapter 12 Plan And Valuation Motion 1200 - Oregon
| Chapter 12 Plan And Valuation Motion Form. This is a Oregon form and can be used in Bankruptcy Court Federal . |
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UNITED STATES BANKRUPTCY COURT DISTRICT OF OREGON In re ) ) Case No._______________________ ) ) CHAPTER 12 PLAN DATED_______________ Debtor(s) ) AND VALU ATION MOTION l. The debtor shall pay to the trustee (a) a periodic payment of $________________________________________________ every _____________________(insert either month, quarter, six months or year); (b) all proceeds from avoided transfers; (c) all tax refunds attributable to prepetition tax years and net tax refunds attributable to postpetition tax years (i.e., tax refunds not included on Schedule I, less tax paid by debtor pursuant to a deficiency shown on any tax return for that same postpetition tax year) received by the debtor for: The life of the plan or 36 months from the date the first plan payment is due (check the applicable provision; if neither is checked, for the life of the plan applies); (d) a lump sum payment of $_______________on _____________(date); and (e) ___________________________________________________________________________________________________________ ___________________________________________________________________________________________________________. From the payments so received, the trustee shall make disbursements as follows: 2. (a) First, to the trustees commission and expenses. (b) Second, with respect to secured creditors, the terms of the debtors prepetition agreement with each secured creditor shall continue to apply, except as otherwise provided for in this plan or the confirmation order. If a creditor is not fully secured, the unsecured portion of the creditors claim shall be treated under the provisions of 2(d) if the claim identifies the priority portion of the claim, and, if not, under the provisions of 2 (e). The following also apply: (1) To creditors whose claims have been timely filed and allowed as secured, make payments as follows (estimated prepetition arrearages on property must be shown below, separately, and identified as such if debtor is curing defaults under 11 USC 1222(b)(5)): Postconfirmation Periodic Creditor Collateral Its Value Term of Payments Interest Rate Payment Any allowed secured claims will be paid in installments as shown above and secured creditors shall retain their liens. If payments to a creditor are to begin after debtors attorney has been paid, the payments to said attorney shall not exceed $________________ before the creditor is paid. No interest shall be paid from the date of the filing of the petition to the date of confirmation unless 11 identifies the creditor(s) to whom such interest shall be paid. The interest rate for each creditor so identified shall be the amount stated in 11 (if no rate is specified the rate shall be the greater of 9% or the stated postconfirmation rate for said creditor). If no postconfirmation interest rate is stated for a creditor, the interest rate applicable to that creditors secured claim shall be 9%. If the collateral is not to be sold, the value of the collateral shall be fixed in the amount stated above for purposes of administration of this plan as well as for purposes of the amount of any secured claim, if undersecured, unless objected to at or before the first date set for the confirmation hearing on this plan or, if applicable, prior to expiration of time to object to this proposed modified plan, in which case the value will be determined by the court. If the collateral is to be sold the value shall be the sales price. The debtor MOVES the court for an order so fixing the value of the collateral. (2) The debtor shall surrender any collateral which is not otherwise addressed by the terms of this plan no later than upon confirmation of this plan to the following creditors (state creditor NAME and DESCRIBE collateral to be surrendered): (c) Third, pro rata, until fully paid, the balance of any payment to allowed administrative expenses referred to in 507(a)(1). (d) Fourth, pro rata, until fully paid, to timely filed and allowed priority claims in the order stated in 507(a)(3)-(8). (e) Fifth, pro rata, to timely filed and allowed nonpriority unsecured claims, the amounts required by 1225(b)(1). These monies will be distributed in the method indicated in the applicable section marked below. The terms of 8 shall also apply. (1) The creditors will receive approximately _______% of their claims. This percentage will vary depending on the amount of total creditors claims filed. (2) The creditors will receive a minimum _______ % of their claims. This percent will not be reduced despite the amount of total creditors claims filed. 1200 (3/15/98) Page 1 of 2 [NOTE: Printed text may NOT be stricken!] <<<<<<<<<********>>>>>>>>>>>>> 2 (3) Pursuant to 1225(a)(4), the unsecured creditors as a group will receive 100 % a minimum of $______________ (check applicable provision; if neither is stricken, "100%" controls) plus ______% shall be paid on all timely filed and allowed priority and nonpriority unsecured claims from the date of plan confirmation to compensate for deferred payment. 3. The debtor moves for assumption of the following executory contracts and leases: Creditor Amount of Default [State if None] Cure Provisions Those executory contracts or leases not specifically mentioned above are treated as rejected. Any timely filed and allowed claim arising from rejection shall be treated under 2(e). The debtor will pay all assumed executory contracts and leases directly, including amounts required to cure. The debtor shall surrender any property covered by rejected executory contracts or leases to the affected creditor no later than upon confirmation of this plan. 4. The following creditors claims are fully secured, shall be paid directly by the debtor pursuant to the original contract terms, and receive no payments under 2: 5. The property described below is to be sold [also state offering price and whether it will be offered through a broker (and if so, who), and state date by which it will be sold and what will occur if it is not timely sold], all offers received by the debtor shall be promptly communicated to the trustee and lienholders, and no sale of such property shall be completed without notice to lienholders and the trustee and an opportunity for a hearing: 6. Untimely claims shall be treated as allowed claims unless disallowed by court order, but shall be subordinated to timely filed claims except secured claims provided for in 2(b), and paid pro rata only after full payment of timely filed claims and
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