Bankruptcy

Bankruptcy Filings Holding Steady


Chapter 13 filings increased and Chapter 7 filings decreased, but the total number of filings over that period were consistent with past years.

  • Chapter 7: Liquidation Under the Bankruptcy Code. This chapter of the Bankruptcy Code provides for "liquidation" - the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors.

General Order 17-0007

Submitted by DCGadmin on Mon, 2017-11-13 11:49
Pursuant 28 U.S.C. § 2071, and after appropriate public notice and an opportunity for comment, the District Court of Guam hereby adopts the attached updated Local Rules of Bankruptcy Practice, effective December 1, 2017.

 

Proposed Amendments to Local Bankruptcy Rules - Dec. 1, 2017

Four local bankruptcy rules need to be changed in order to be consistent with the amended federal bankruptcy rules of procedure that become effective on December 1.  These are BKLR 1006-1, 3007-1, 3015-1, and 3015-2.  The biggest change is the adoption of a standard local Chapter 13 plan form that conforms to the new national Chapter 13 plan form.  This plan has two attachments to handle motions for request of valuation of a secured claim and  requests to avoid lien under § 522(f).  Under our existing rules, these motions would be handled with pleadings.

 

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