Chapter 11 Unclaimed Funds Language

PROPOSED PLAN OF REORGANIZATION LANGUAGE 

The Liquidation Trustee is authorized and directed to donate any undeliverable distributions which are not claimed within the time frame set forth in Article __ of the Plan, along with any unused withheld funds and any other de minimus funds received by the Trust subsequent to the filing of a motion to approve final report, to Maryland Volunteer Lawyers Service (MVLS). 

  

PROPOSED LIQUIDATING TRUST LANGUAGE 

The Liquidation Trustee is authorized and directed to tender to Maryland Volunteer Lawyers Service (MVLS):  (i) those distributions set forth on Exhibit __ that are less than $___ (defined as De Minimus Final Distributions in Section ___ of the Trust Agreement); (ii) any undeliverable Distributions (as that term is defined in Section ___ of the Trust Agreement), and (iii) any Unclaimed Property (as that term is defined in Section __ of the Trust Agreement). 

  

PROPOSED FINAL DECREE AND ORDER CLOSING BANKRUPTCY CASE LANGUAGE 

To the extent the Debtor is able to make additional distributions to any creditors in excess of $____________ ($____) dollars, the Debtor will make such additional distribution as funds are available in the Debtor’s discretion.  If funds are not sufficient to make an additional distribution to a creditor in excess of $_____________, the pro rata distribution attributable to any such creditor will be donated to Maryland Volunteer Lawyers Service (MVLS). 

 

For more information, contact:

Susan Francis, Esq. 
Executive Director 
Maryland Volunteer Lawyers Service (MVLS) 
443-451-4084 
sfrancis@mvlslaw.org 

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