(4) (§9.34) Procedure for Acceptance or Rejection
On or before approval of the disclosure statement, the court must fix a time within which holders may accept or reject the plan. Fed. R. Bankr. P. 3017(c). The Federal Rule of Bankruptcy Procedure 9006(b)(1) “excusable neglect” standard will be used to determine whether a late ballot should be counted. Hanson v. First Bank of S.D., N.A., 828 F.2d 1310 (8th Cir. 1987). Then the debtor-in-possession, trustee, proponent, or clerk, as ordered by the court, must mail the following to all creditors and equity security holders:
· The plan, or a court approved summary
· The approved disclosure statement
· Notice of the deadline for filing acceptances or rejections
· Notice of the date fixed for the confirmation hearing
· Any other information the court may direct, including any opinion of the court approving the disclosure statement or a court-approved summary of the opinion
Fed. R. Bankr. P. 3017(d).
In addition, a form of ballot conforming to Official Form No. 14 must be mailed to all creditors and equity security holders entitled to vote on the plan. Id. Persons entitled to vote on the plan are listed in Federal Rule of Bankruptcy Procedure 3018(a), discussed above.
Practice Tip: The question whether a person is entitled...
