Michigan Filing Chapter 11:

Each debtor filing Michigan bankruptcy under Chapter 11 is authorized to proceed as a debtor in possession. As a term of legal art, a debtor in possession assumes the rights and responsibilities traditionally associated with a trustee in consumer cases. All debtors filing Chapter 11 must be prepared to satisfy an extensive array of duties within court established deadlines.

NOTICE OF AMENDED FORMS AND AUTOMATIC ADJUSTMENTS TO DOLLAR AMOUNTS: On April 1, 2004, automatic adjustments to the dollar amounts stated in various provisions of the Code will become effective in Michigan Bankruptcy Courts. The new dollar amounts will apply to cases filed after the effective date. These amended dollar amounts will affect the eligibility of a debtor to file under Chapter 13 of the Code, certain maximum values of property that a debtor may claim as exempt, the maximum amount of certain claims entitled to priority, the minimum aggregate value of claims needed to commence an involuntary petition, and the value of luxury foods and services deemed to be nondischargeable. The Michigan Bankruptcy Courts will adopt new forms to incorporate these changes beginning April 1, 2004.

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