Notice to the Bar and Public Concerning Modified 11 U.S.C. § 1111(b) Election Deadline in Subchapter V Cases
UNITED STATES BANKRUPTCY COURT DISTRICT OF NEW JERSEY
NOTICE TO THE BAR AND PUBLIC CONCERNING MODIFIED 11 U.S.C. § 1111(b) ELECTION DEADLINE IN SUBCHAPTER V CASES
Federal Rule of Bankruptcy Procedure 3014 specifies when secured creditors may elect the application of 11 U.S.C. § 1111(b)(2) of the Bankruptcy Code in a chapter 9 or 11 case and, with respect to cases filed under subchapter V of chapter 11, states that “the election may be made not later than a date the court may fix.”
In accordance with FRBP 3014, please be advised that the Court will direct creditors seeking a § 1111(b)(2) election to make such election no later than 14 days from the filing of the debtor’s plan, unless extended by further order of the Court.
This modified deadline supersedes the deadline set forth in the Notice to the Bar and Public Concerning 11 U.S.C. §1111(b) Election Deadline in Subchapter V Cases, dated February 6, 2023, which set a previous deadline of no later than 60 days from the petition date.
Dated: January 22, 2024 Jeanne A. Naughton, Clerk