The United States Trustee Program’s New Chapter 11 Periodic Reports (Effective June 21, 2021)

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On December 21, 2020, the United States Trustee Program (USTP) published a final rule in the Federal Register, entitled the “Procedures for Completing Uniform Periodic Reports in Non-Small Business Cases Filed Under Chapter 11 of Title 11” (the “Final Rule”). See 28 C.F.R. § 58.8.

Bankruptcy practitioners should be aware that the Final Rule becomes effective for all reports filed on or after June 21, 2021.

The Final Rule requires that the filing of pre-confirmation monthly operating reports (MORs) and quarterly post-confirmation reports (PCRs) be done by using “streamlined, data-embedded, uniform forms in every case in every judicial district where the USTP operates.” See Notice Regarding the United States Trustee Program’s New Chapter 11 Periodic Reports (28 C.F.R. § 58.8).  This Final Rule applies to all debtors, except for those small business debtors who have filed under subchapter V of chapter 11.

The new forms and updates regarding the Final Report and Implementation will be posted by the USTP.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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