(a) Data Required. In a chapter 9 municipality or chapter 11 reorganization case, except with respect to a committee appointed pursuant to § 1102 or 1114 of the Code, every entity or committee representing more than one creditor or equity security holder and, unless otherwise directed by the court, every indenture trustee, shall file a verified statement setting forth (1) the name and address of the creditor or equity security holder; (2) the nature and amount of the claim or interest and the time of acquisition thereof unless it is alleged to have been acquired more than one year prior to the filing of the petition; (3) a recital of the pertinent facts and circumstances in connection with the employment of the entity or indenture trustee, and, in the case of a committee, the name or names of the entity or entities at whose instance, directly or indirectly, the employment was arranged or the committee was organized or agreed to act; and (4) with reference to the time of the employment of the entity, the organization or formation of the committee, or the appearance in the case of any indenture trustee, the amounts of claims or interests owned by the entity, the members of the committee or the indenture trustee, the times when acquired, the amounts paid therefor, and any sales or other disposition thereof. The statement shall include a copy of the instrument, if any, whereby the entity, committee, or indenture trustee is empowered to act on behalf of creditors or equity security holders. A supplemental statement shall be filed promptly, setting forth any material changes in the facts contained in the statement filed pursuant to this subdivision.
(b) Failure To Comply; Effect. On motion of any party in interest or on its own initiative, the court may (1) determine whether there has been a failure to comply with the provisions of subdivision (a) of this rule or with any other applicable law regulating the activities and personnel of any entity, committee, or indenture trustee or any other impropriety in connection with any solicitation and, if it so determines, the court may refuse to permit that entity, committee, or indenture trustee to be heard further or to intervene in the case; (2) examine any representation provision of a deposit agreement, proxy, trust mortgage, trust indenture, or deed of trust, or committee or other authorization, and any claim or interest acquired by any entity or committee in contemplation or in the course of a case under the Code and grant appropriate relief; and (3) hold invalid any authority, acceptance, rejection, or objection given, procured, or received by an entity or committee who has not complied with this rule or with § 1125(b) of the Code.
(As amended Mar. 30, 1987, eff. Aug. 1, 1987; Apr. 30, 1991, eff. Aug. 1, 1991.)
added in current removed in current
Compared to current version (2025).
(a) Data Required. In a chapter 9 municipality or chapter 11 reorganization case, except with respect to a committee appointed pursuant to § 1102 or 1114 of the Code, every entity or committee representing more than one creditor or equity security holder and, unless otherwise directed by the court, every indenture trustee, shall file a verified statement setting forthefinitions. In this Rule 2019:
(1) ‘‘disclosable economic interest’’ means any claim, interest, pledge, lien, option, participation, derivative instrument, or other right or derivative right granting the holder an economic interest that is affected by the value, acquisition, or disposition of a claim or interest; and
(2) ‘‘represent’’ or ‘‘represents’’ means to take a position before the court or to solicit votes regarding a plan’s confirmation on another’s behalf.
(b) Who Must Disclose.
(1) In General. In a Chapter 9 or 11 case, a verified statement containing the information listed in (1c) the name and address of thmust be filed by every group or committee consisting of or representing-and every entity representing-multiple creditors or equity security holder; (2) the nature and amount of the claim ors that are:
(A) acting in concert to advance their common interests; and the time of acquisition thereof unless it is alleged to have been acquired more than one year prior to the filing of the petition; (3) a recital of the pertinent facts and circumstances in connection with the employment of the entity or indenture trustee, and,
(B) not composed entirely of affiliates or insiders of one another.
(2) When a Disclosure Statement Is Not Required. Unless the court orders otherwise, an entity need not file the statement described in (1) solely because it is:
(A) an indenture trustee;
(B) an agent for one or more other entities under an agreement to extend credit;
(C) a class-action representative; or
(D) a governmental unit that is not a person.
(c) Required Information. The verified statement must include:
(1) the pertinent facts and circumstances concerning:
(A) for a group or committee (except a committee appointed under § 1102 or § 1114), its formation, including the casname of a committee, the naeach entity at whose instance it was formed or names of the entity or entities at whose instance, directly or indirectly, the employment was arranged or thefor whom it has agreed to act; or
(B) for an entity, the entity’s employment, including the name of each creditor or equity security holder at whose instance the employment was arranged;
(2) if not disclosed under (1), for each member of a group or committee was and forg anized or agreed to act; and (4) with reference to the ti entity:
(A) name and address;
(B) the nature and amount of each disclosable economic interest held in relation to the debtor when the group or committee was formed ofr the employment of the entity, the organization or formation of the committee, or the appearance in the case of any indenture trustee, the amounts of claims or interests ownntity was employed; and
(C) for each member of a group or committee claiming to represent any entity in addition to its own members (except a committee appointed under § 1102 or § 1114), the quarter and year in which each disclosable economic interest was acquired-unless it was acquired more than 1 year before the petition was filed;
(3) if not disclosed under (1) or (2), for each creditor or equity security holder represented by thean entity, the members of the committee or the indenture trustee, the times when acquired, the amounts paid therefor, and any group, or committee (except a committee appointed under § 1102 or § 1114):
(A) name and address; and
(B) the nature and amount of each disclosables or other disposi economic interest held in relation to thereof. The statement shall include debtor on the statement’s date; and
(4) a copy of theany instrument, if any, whereby the entity, committee, or indenture trustee is empowered authorizing the group, committee, or entity to act on behalf of creditors or equity security holders. A s
(d) Supplemental sStatement shall be filed promptly, setting forth any material changes in the facts contained in the statement filed pursuant to this subdivision. If a fact disclosed in its most recent statement has changed materially, a group, committee, or entity must file a verified supplemental statement whenever it takes a position before the court or solicits votes on a plan’s confirmation. The supplemental statement must set forth any material changes in the information specified in (c).
(be) Failure Tto Comply; Effect. On motion of anySanctions.
(1) Failure to Comply. On a party in interest’s motion, or on its own initiative, the court may (1) determine whether there has been a failure to comply with the provisions of subdivision (a) of this rule or with any other applicable law regulating the activities and personnel of any entity, committee, or indenture trustee or any other impropriety in connection with any solicitation and, if it so determines, the court mayis Rule 2019.
(2) Sanctions. If the court finds a failure to comply, it may:
(A) refuse to permit that entitye group, committee, or indenture trusteeentity to be heard further or to intervene in the case; (2) examine any representation provision of a deposit agreement, proxy, trust mortgage, trust indenture, or deed of trust, or committee or other authorization, and any claim or interest acquired by any entity or committee in contemplation or in the course of a case under the Code and grant appropriate relief; and (3) hold invalid any authority, acceptance, rejection, or objection given, procured, or received by an entity or committee who has not complied with this rule or with § 1125(b) of the Code
(B) hold invalid any authority, acceptance, rejection, or objection that the group, committee, or entity has given, procured, or received; or
(C) grant other appropriate relief.
(As amended Mar. 30, 1987, eff. Aug. 1, 1987; Apr. 30, 1991, eff. Aug. 1, 1991; Apr. 26, 2011, eff. Dec. 1, 2011; Apr. 2, 2024, eff. Dec. 1, 2024.)