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Southern District of Indiana U.S. Bankruptcy Court Re-Opens Comment Period for Proposed Expansion of Mortgage Loss Mitigation Procedure - Commercial & Bankruptcy Law News

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Southern District of Indiana U.S. Bankruptcy Court Re-Opens Comment Period for Proposed Expansion of Mortgage Loss Mitigation Procedure

Posted on: Apr 29, 2016

On December 17, 2015, the Bankruptcy Judges requested comments on proposed revisions to the general order that established the mortgage loss mitigation mediation procedure, used in the New Albany Division [General Order 14-0002]. The proposed revisions generated many comments. The Judges have considered those, and now share this revised proposed general order. (Use of a general order rather than a local rule allows for easier modification, and is the method used by most courts for adoption of such procedures.)

Because the changes from the original proposal are so significant, the Judges once again invite comments from the bar prior to the order’s execution. Comments can be made by sending an email to Local_Rules_Comments@insb.uscourts.gov. Comments are due by 5 p.m. EDT on May 27, 2016.