§341. Meetings of creditors and equity security holders — Inbound Citations
11 U.S.C. § 341
Cited by 32 provisions in release 119-102.
Citations to 11 U.S.C. § 341 as a whole
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(b) At the meeting of creditors held under section 341 of this title, creditors may elect one person to serve as trustee in the case if election of a trustee is requested by creditors that may vote under subsection (a) of this section, and that hold at least 20 percent in amount of the claims specified in subsection (a)(1) of this section that are held by creditors that may vote under subsection (a) of this section.
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(2) attend, through its senior management personnel and counsel, meetings scheduled by the court or the United States trustee, including initial debtor interviews, scheduling conferences, and meetings of creditors convened under section 341 unless the court, after notice and a hearing, waives that requirement upon a finding of extraordinary and compelling circumstances;
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Sections 341, 343, 1102(a)(1), 1104, 1105, 1107, 1129(a)(7), and 1129(c) of this title do not apply in a case concerning a railroad.
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(A) in a Chapter 7 case, within 60 days after the first date set for the meeting of creditors under § 341; and
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(2) a meeting of equity security holders under § 341;
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(1) Personal Identifying Information. An individual debtor must bring to the § 341 meeting of creditors:(A) a government-issued identification with the debtor’s picture, or other personal information that establishes the debtor’s identity; and(B) evidence of any social-security number, or a written statement that no such evidence exists.
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(2) Financial Documents. An individual debtor must bring the following documents (or copies) to the § 341 meeting of creditors and make them available to the trustee—or provide a written statement that they do not exist or are not in the debtor’s possession:(A) evidence of current income, such as the most recent payment advice;(B) unless the trustee or the United States trustee instructs otherwise, a statement for each depository or investment account—including a checking, savings, or money-market account, mutual fund or brokerage account—for the period that includes the petition’s filing date; and(C) if required by § 707(b)(2)(A) or (B), documents showing claimed monthly expenses.
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(3) Tax Return to Be Provided to the Trustee. At least 7 days before the first date set for the § 341 meeting of creditors, the debtor must provide the trustee with:(A) a copy of the debtor’s federal income-tax return, including any attachments to it, for the most recent tax year ending before the case was commenced and for which the debtor filed a return;(B) a transcript of the return; or(C) a written statement that the documents do not exist.
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(4) Tax Return to Be Provided to a Creditor. Upon a creditor’s request at least 14 days before the first date set for the § 341 meeting of creditors, the debtor must provide the creditor with the documents to be provided to the trustee under (3). The debtor must do so at least 7 days before the meeting.
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(1) By a Party in Interest. Except as (2) and (3) provide, a party in interest may file an objection to a claimed exemption within 30 days after the later of:• the conclusion of the § 341 meeting of creditors;• the filing of an amendment to the list; or• the filing of a supplemental schedule.On a party in interest’s motion filed before the time to object expires, the court may, for cause, extend the time to file an objection.
Citations to §341(a)
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The debtor shall appear and submit to examination under oath at the meeting of creditors under section 341(a) of this title. Creditors, any indenture trustee, any trustee or examiner in the case, or the United States trustee may examine the debtor. The United States trustee may administer the oath required under this section.
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(B) within 30 days after the first date set for the meeting of creditors under section 341(a), or within such additional time as the court, for cause, within such 30-day period fixes, perform his intention with respect to such property, as specified by subparagraph (A) of this paragraph;
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(6) in a case under chapter 7 of this title in which the debtor is an individual, not retain possession of personal property as to which a creditor has an allowed claim for the purchase price secured in whole or in part by an interest in such personal property unless the debtor, not later than 45 days after the first meeting of creditors under section 341(a), either—(A) enters into an agreement with the creditor pursuant to section 524(c) with respect to the claim secured by such property; or(B) redeems such property from the security interest pursuant to section 722; and
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(a) At the meeting under section 341(a) of this title, creditors that may vote for a trustee under section 702(a) of this title may elect a committee of not fewer than three, and not more than eleven, creditors, each of whom holds an allowable unsecured claim of a kind entitled to distribution under section 726(a)(2) of this title.
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(G) failure to attend the meeting of creditors convened under section 341(a) or an examination ordered under rule 2004 of the Federal Rules of Bankruptcy Procedure without good cause shown by the debtor;
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(a) Not later than the day before the date on which the meeting of the creditors is first scheduled to be held under section 341(a), if the debtor was required to file a tax return under applicable nonbankruptcy law, the debtor shall file with appropriate tax authorities all tax returns for all taxable periods ending during the 4-year period ending on the date of the filing of the petition.
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(1) Subject to paragraph (2), if the tax returns required by subsection (a) have not been filed by the date on which the meeting of creditors is first scheduled to be held under section 341(a), the trustee may hold open that meeting for a reasonable period of time to allow the debtor an additional period of time to file any unfiled returns, but such additional period of time shall not extend beyond—(A) for any return that is past due as of the date of the filing of the petition, the date that is 120 days after the date of that meeting; or(B) for any return that is not past due as of the date of the filing of the petition, the later of—(i) the date that is 120 days after the date of that meeting; or(ii) the date on which the return is due under the last automatic extension of time for filing that return to which the debtor is entitled, and for which request is timely made, in accordance with applicable nonbankruptcy law.
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(b) The hearing on confirmation of the plan may be held not earlier than 20 days and not later than 45 days after the date of the meeting of creditors under section 341(a), unless the court determines that it would be in the best interests of the creditors and the estate to hold such hearing at an earlier date and there is no objection to such earlier date.
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(2) Time to File a Motion; Content. Except as § 704(b)(2) provides otherwise, a motion to dismiss a case for abuse under § 707(b) or (c) must be filed within 60 days after the first date set for the meeting of creditors under § 341(a). On request made within the 60-day period, the court may, for cause, extend the time to file. The motion must:(A) set forth all matters to be considered at the hearing; and(B) if made under § 707(b)(1) and (3), state with particularity the circumstances alleged to constitute abuse.
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(3) Hearing on the Court’s Own Motion; Serving Notice. If the hearing is set on the court’s own motion, the clerk must serve notice on the debtor within 60 days after the first date set for the meeting of creditors under § 341(a). The notice must set forth all matters to be considered at the hearing.
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(b) The United States trustee or a party in interest may object to the debtor’s designation. The objection must be filed within 30 days after the conclusion of the meeting of creditors held under § 341(a) or within 30 days after an amendment to the designation is filed, whichever is later.
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(c) At the meeting of creditors under § 341(a), the United States trustee must:(1) record verbatim—using electronic sound-recording equipment or other means of recording—all examinations under oath;(2) preserve the recording and make it available for public access for 2 years after the meeting concludes; and(3) upon request, certify and provide a copy or transcript of the recording to any entity at that entity’s expense.
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(e) Before voting begins at any meeting of creditors under § 341(a)—or at any other time the court orders—a holder of 2 or more proxies must file and send to the United States trustee a verified list of the proxies to be voted and a verified statement of the pertinent facts and circumstances regarding each proxy’s execution and delivery. The statement must include:(1) a copy of the solicitation;(2) an identification of the solicitor, the forwarder (if the forwarder is neither the solicitor nor the claim owner), and the proxyholder—including their connections with the debtor and with each other—together with:(A) if the solicitor, forwarder, or proxyholder is an association, a statement that the creditors whose claims have been solicited and the creditors whose claims are to be voted were, on the petition date, members or subscribers in good standing with allowable unsecured claims; and(B) if the solicitor, forwarder, or proxyholder is a committee of creditors, a list stating:(i) the date and place the committee was organized;(ii) that the committee was organized under (c)(2) or (c)(3);(iii) the committee’s members;(iv) the amounts of their claims;(v) when the claims were acquired;(vi) the amounts paid for the claims; and(vii) the extent to which the committee members’ claims are secured or entitled to priority;(3) a statement that the proxyholder has neither paid nor promised any consideration for the proxy;(4) a statement addressing whether there is any agreement—and, if so, giving its particulars—between the proxyholder and any other entity to:(A) pay any consideration related to voting the proxy; or(B) share with any entity (except a member or regular associate of the proxyholder’s law firm) compensation that may be allowed to:(i) the trustee or any entity for services rendered in the case; or(ii) any person employed by the estate;(5) if the proxy was solicited by an entity other than the proxyholder—or forwarded to the holder by an entity who is neither a solicitor of the proxy nor the claim owner—a statement signed and verified by the solicitor or forwarder:(A) confirming that no consideration has been paid or promised for the proxy;(B) addressing whether there is any agreement—and, if so, giving its particulars—between the solicitor or forwarder and any other entity to pay any consideration related to voting the proxy or to share with any entity (except a member or regular associate of the solicitor’s or forwarder’s law firm) compensation that may be allowed to:(i) the trustee or any entity for services rendered in the case; or(ii) any person employed by the estate; and(6) if the solicitor, forwarder, or proxyholder is a committee, a statement signed and verified by each member disclosing the amount and source of any consideration paid or to be paid to the member in connection with the case, except a dividend on the member’s claim.
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(1) Chapter 7. In a Chapter 7 case, a complaint—or a motion under § 727(a)(8) or (9)—objecting to a discharge must be filed within 60 days after the first date set for the § 341(a) meeting of creditors.
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(c) Except as (d) provides, a complaint to determine whether a debt is dischargeable under § 523(c) must be filed within 60 days after the first date set for the § 341(a) meeting of creditors. The clerk must give all creditors at least 30 days’ notice of the time to file in the manner provided by Rule 2002. On a party in interest’s motion filed before the time expires, the court may, after notice and a hearing and for cause, extend the time to file.
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(a) A reaffirmation agreement must be filed within 60 days after the first date set for the § 341(a) meeting of creditors. The agreement must have a cover sheet prepared as prescribed by Form 427. At any time, the court may extend the time to file an agreement.
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(b) This subdivision (b) applies if an individual debtor in a Chapter 7 or 13 case is required to file a certificate under Rule 1007(b)(7) and fails to do so within 45 days after the first date set for the meeting of creditors under § 341(a). The clerk must promptly notify the debtor that the case will be closed without entering a discharge if the certificate is not filed within the time prescribed by Rule 1007(c).
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(A) conduct an initial debtor interview as soon as practicable after the date of the order for relief but before the first meeting scheduled under section 341(a) of title 11, at which time the United States trustee shall—(i) begin to investigate the debtor’s viability;(ii) inquire about the debtor’s business plan;(iii) explain the debtor’s obligations to file monthly operating reports and other required reports;(iv) attempt to develop an agreed scheduling order; and(v) inform the debtor of other obligations;
Citations to §341(b)
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(2) At a Meeting of Equity Security Holders. If the United States trustee convenes a meeting of equity security holders under § 341(b), the United States trustee must set a date for the meeting and preside over it.
Citations to §341(e)
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(1) Date. Except as provided in § 341(e), the United States trustee must call a meeting of creditors to be held:(A) in a Chapter 7 or 11 case, no fewer than 21 days and no more than 40 days after the order for relief;(B) in a Chapter 12 case, no fewer than 21 days and no more than 35 days after the order for relief; or(C) in a Chapter 13 case, no fewer than 21 days and no more than 50 days after the order for relief.