Rule 3021. Distributing Funds Under a Plan

(a) In General. After confirmation and when any stay under Rule 3020(e) expires, payments under the plan must be distributed to: • creditors whose claims have been allowed; • interest holders whose interests have not been disallowed; and • indenture trustees whose claims under Rule 3003(c)(5) have been allowed.

(b) Definition of ‘‘Creditors ’’ and ‘‘Interest Holders.’’ In this Rule 3021:

(1) ‘‘creditors’’ include record holders of bonds, debentures, notes, and other debt securities as of the initial distribution date, unless the plan or confirmation order states a different date; and

**(2) ‘‘interest holders’’ include record holders of stock and other equity securities as of the initial distribution date, unless the plan or confirmation order states a different date.

(As amended Apr. 11, 1997, eff.** Dec. 1, 1997; Apr. 26, 1999, eff. Dec. 1, 1999; Apr. 2, 2024, eff. Dec. 1, 2024.)