Redlined- LBR2082-1 June 2007 comment

Rule 2082 - 1Chapter 12 - General(a) ApplicabilityThis rule applies only to cases under Chapter 12 of the Bankruptcy Code.(b) Tax ReturnsThe debtor shall provide to the trustee, and any creditor who requests, at least 7 days before themeeting of creditors, file at the time the schedules are filed, a copy of income tax returns filed withthe IRS for the three (3) years prior to the year in which the petition is filed together with allschedules thereto.Note: It is suggested that this sub-paragraph be amended to require tax information be providedto the trustee rather than being filed since the various privacy laws makes filing suchinformation somewhat more complicated. It should be noted that FRBP 4002 has a similarrequirement but only for “individual” debtors, and 11 USC 521, that now requires thedebtor to provide certain tax information, does not apply to Chapter 12. (c) Debtor Eligibility ChallengesChallenges to the eligibility of the debtor should be initiated at the earliest possible time in the case.Such challenges may be made by fifteen (15) days notice and hearing to the Master Mailing Listpursuant to LBR 2002 - 1.(d) Funds of the Estate(1) The debtor shall open a new bank account immediately upon filing a case underChapter 12. The bank account shall be in the name of the debtor as "CHAPTER 12DEBTOR". The account shall be separate from any account used by the debtor priorto filing of the Chapter 12 case. All amounts from the debtor's ...