[CLBS] Proposed Model Chapter 13 Plan

[Ken Anderson]

2 July 2012

Some off-the-cuff comments on the proposed Ch 13 plan... Generally this is
an improvement but I do have a few concerns.

1.	Sec. 4.4. "From available funds..."  Can a priority-class creditor
reading this feel assured that his total claim will be paid during the plan?
(The language seems a little uncertain.)  
2.	Sec. 5.1. Some creditors probably don't know what "PMSI" means.
Consider slightly altering the all-caps title to this section to read
"...HOLDERS OF CERTAIN PURCHASE MONEY SECURITY INTERESTS (PMSI'S) IN MOTOR
VEHICLES..."
3.	 Sec. 5.3. Suppose a plan is confirmed before the secured creditor
files the non-conforming POC. Is the debtor's attorney responsible for
identifying the problem and modifying the plan? Or does the plan even need
modification ---or does the trustee just disregard the order of confirmation
to the extent it conflicts with the allowed POC? What about Espinosa and the
Supreme Court's emphatic language about the finality of Ch 13 confirmation
orders? 
4.	Sec. 5.5. Does this comply with the Section 522(f) statute (and
related caselaw) concerning demonstrating the application of the formula? Or
does this just provide the facts to enable a concerned creditor to work
through the formula himself?
5.	Sec. 8.  See Sec. 5.3.

-Ken Anderson


-----Original Message-----
From: clbs-bounces at admws.idaho.gov [mailto:clbs-bounces at admws.idaho.gov] On
Behalf Of Alex Caval
Sent: Wednesday, June 13, 2012 12:45 PM
To: clbs at admws.idaho.gov
Subject: [CLBS] Proposed Model Chapter 13 Plan

Everyone:

Please see the attached memorandum and the proposed model Chapter 13 Plan
that the Chapter 13 Advisory Committee has been working on for the last few
months. We need input from the bankruptcy bar regarding whether or not the
proposed model plan should be submitted to the Rule Committee for approval.
The Advisory Committee needs your input by July 3, 2012 for the next Rules
Committee meeting that is scheduled for July 6, 2012. If you would prefer to
email a specific member of the Advisory Committee rather than posting to the
entire ListServ, then you may do so by clicking on the member's name in the
attached memorandum.

 

Alexandra O. Caval

Staff Attorney

Office of Kathleen A. McCallister

Chapter 13 Trustee

P.O. Box 1150

Meridian, ID 83680

T: (208) 922-5100

F: (208) 922-5599