Bulletin: NY000426

Date:
December 04, 2009
To:
All New York State Office Counsel, Managers and Agents
RE:
Amendments to Federal Bankruptcy Rules of Procedure

There have been recent amendments to the Federal Rules of Bankruptcy Procedure effective December 1, 2009. These changes impact deadlines and timeframes for many actions under the Rules. The amended deadlines substitute a timeframe that is a multiple of seven days. Throughout the rules, deadlines are amended in the following manner:

5-day periods become 7-day periods
10-day periods become 14-day periods
15-day periods become 14-day periods
20-day periods become 21-day periods
25-day periods become 28-day periods

Therefore, the following new timeframes apply:

Notice of Appeal - 14 days
Stay of Order (of implementation of sale, loan, lift of stay, or confirmation of plan) - 14 days unless waived
Notice of Intent to Abandon - 14 days
Notice of Intent to Sell - 21 days

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None