(a)     Disbursing Agent. At the time of confirmation of the chapter 11 plan, the court may designate an individual to serve as disbursing agent for the purpose of making the first payment pursuant to the plan. Any designated disbursing agent shall be named in the order of confirmation.

          (b)     Report of Substantial Consummation. The proponent of the plan shall file a report of substantial consummation which provides a basis for the court to find that the proponent of the plan has satisfied the criteria of 11 U.S.C. 1101(2).

          The report of substantial consummation shall be accompanied by a motion for final decree on notice to all creditors and parties in interest. Unless otherwise ordered by the court, the final report form, a proposed final decree, the cancelled checks representing the distributions made pursuant to the confirmed plan and the supplementary exhibit to the application for final compensation required by Local Bankruptcy Rule 2016-1 are not required to be served with the motion but must be filed with the court.

          Based on the information received, the court shall ascertain whether the case has been fully administered and entertain the entry of the proposed final decree closing the case. Pursuant to FRBP 3022, factors the court may consider in determining whether the estate has been fully administered include: (1) whether the order confirming the plan has become final; (2) whether deposits required by the plan have been distributed; (3) whether the property proposed by the plan to be transferred has been transferred; (4) whether the debtor or the successor of the debtor under the plan has assumed the business or the management of the property dealt with by the plan; (5) whether payments under the plan have commenced; and (6) whether all motions, contested matters and adversary proceedings have been finally resolved.

          (c)     Time for Filing. The court may require the report of substantial consummation to be filed as early as the time that all checks have cleared as to the first payment made under the plan. In no event shall the report be filed later than 180 days after entry of a final order confirming a plan unless the court, for cause shown, extends the time upon motion filed and served within the original 180 day period.
 
 

          The court may name the debtor, debtor's attorney or some other individual to serve as disbursing agent with respect to making the first payment under the plan. Any compensation to a disbursing agent must be preapproved by the court.

          Section 350(a) of the Code and FRBP 3022 provide that the court shall enter a final decree closing a case when it is fully administered, on the court's own motion or on motion of a party in interest. Those authorities, however, provide no deadline for such motions. It has been the experience of the court that there has often been an inordinate and unnecessary delay in filing such motions. This rule is intended to remedy that problem.

          The court may administratively close the case after the first payment is made under the plan and the required report and accompanying documents are filed by the plan proponent. Under this rule, the plan proponent must file the report not later than 180 days after confirmation or as otherwise directed by the court.

          The final report shall be signed and sworn to or affirmed and shall include, but is not limited to, the following information:

                    1.     Administrative expenses:

                            Trustee compensation (if applicable)                     $________
                            Attorney for trustee compensation
                                        (if applicable)                                           $________
                            Attorney for debtor compensation                         $________
                            Other professionals compensation                         $________
                            All expenses                                                         $________

                            Total administrative expenses                                $________
 

                    2.     Percentage of claims paid:

                            Percentage of claims paid to general
                                        unsecured creditors                                     ________%

          Once jurisdiction has been divested by the bankruptcy court, in the event of a subsequent default by the debtor under the terms of its confirmed plan, aggrieved creditors have the remedy of suit on the plan and order of confirmation. The debtor's confirmed plan creates obligations of the debtor to creditors which have been substituted for the debtor's prepetition obligations. These obligations are valid and enforceable in state and federal courts which otherwise have jurisdiction over the parties and their claims.