Page:United States Statutes at Large Volume 119.djvu/128

 119 STAT. 110

PUBLIC LAW 109–8—APR. 20, 2005 and other parties in interest, and the cost of providing additional information’’; and (2) by striking subsection (f), and inserting the following: ‘‘(f) Notwithstanding subsection (b), in a small business case— ‘‘(1) the court may determine that the plan itself provides adequate information and that a separate disclosure statement is not necessary; ‘‘(2) the court may approve a disclosure statement submitted on standard forms approved by the court or adopted under section 2075 of title 28; and ‘‘(3)(A) the court may conditionally approve a disclosure statement subject to final approval after notice and a hearing; ‘‘(B) acceptances and rejections of a plan may be solicited based on a conditionally approved disclosure statement if the debtor provides adequate information to each holder of a claim or interest that is solicited, but a conditionally approved disclosure statement shall be mailed not later than 25 days before the date of the hearing on confirmation of the plan; and ‘‘(C) the hearing on the disclosure statement may be combined with the hearing on confirmation of a plan.’’.

Deadline.

SEC. 432. DEFINITIONS.

(a) DEFINITIONS.—Section 101 of title 11, United States Code, is amended by striking paragraph (51C) and inserting the following: ‘‘(51C) ‘small business case’ means a case filed under chapter 11 of this title in which the debtor is a small business debtor; ‘‘(51D) ‘small business debtor’— ‘‘(A) subject to subparagraph (B), means a person engaged in commercial or business activities (including any affiliate of such person that is also a debtor under this title and excluding a person whose primary activity is the business of owning or operating real property or activities incidental thereto) that has aggregate noncontingent liquidated secured and unsecured debts as of the date of the petition or the date of the order for relief in an amount not more than $2,000,000 (excluding debts owed to 1 or more affiliates or insiders) for a case in which the United States trustee has not appointed under section 1102(a)(1) a committee of unsecured creditors or where the court has determined that the committee of unsecured creditors is not sufficiently active and representative to provide effective oversight of the debtor; and ‘‘(B) does not include any member of a group of affiliated debtors that has aggregate noncontingent liquidated secured and unsecured debts in an amount greater than $2,000,000 (excluding debt owed to 1 or more affiliates or insiders);’’. (b) CONFORMING AMENDMENT.—Section 1102(a)(3) of title 11, United States Code, is amended by inserting ‘‘debtor’’ after ‘‘small business’’. (c) ADJUSTMENT OF DOLLAR AMOUNTS.—Section 104(b) of title 11, United States Code, as amended by section 226, is amended by inserting ‘‘101(51D),’’ after ‘‘101(3),’’ each place it appears. 28 USC 2073 note.

VerDate 14-DEC-2004

08:19 Oct 26, 2006

SEC. 433. STANDARD FORM DISCLOSURE STATEMENT AND PLAN.

Within a reasonable period of time after the date of enactment of this Act, the Judicial Conference of the United States shall

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