CAEB — Deposits of Registry Funds

Source: https://www.caeb.uscourts.gov//documents/forms/generalorders/GO.04-04.pdf

Sparse pages use OCR; original PDF remains authoritative.

0 Oo ON Oo FF WwW DY = DM DM NH NHB YB YB NY NY NY | FS BF FSF FP FPR zA2a ea oN ODO oO BRB WH |= DODO OBN Da FF WOW Nn = In re FILED UNITED STATES BANKRUPTCY COURT inc¥ | 8 2004 EASTERN DISTRICT OF CALIFORNIA | wep states BANKRUPTCY COURT EASTERN DISTRICT OF CALIFORNIA DEPOSITS OF REGISTRY FUNDS ) GENERAL ORDER 04-04 (a) (b) (d) IT IS ORDERED that the following shall apply to deposits of registry funds: Deposits. When funds are sought to be deposited in the registry account of the Court, the party or parties shall make application to the Court for an order to invest the funds. The form of order submitted shall be in accordance with the following provisions of this General Order. Placement of Deposit. An order directing the Clerk of Court to deposit funds in the registry account of the Court may specify the name of the bank or financial institution where the funds are to be invested, the type of account and terms of the investment. If this information is not provided, the Clerk will exercise his or her discretion to determine the financial institution, type of account and terms of investment. Approved Depository. Funds can only be deposited with the Treasurer of the United States or a designated depository, provided that such designated financial institution has pledged sufficient securities to secure the total sum of deposits in excess of FDIC coverage. Registry Funds Fees. The court order directs the Clerk of Court to deduct a fee from the income earned on the investment, not exceeding that authorized by the Judicial Conference of the United States and set by the Director of the Administrative Office. The fee is limited to 10% of the earned income, when the funds are less than $100 million and held in the court for up to five years. If funds are held for more than five years or over $100 million, the percentage is reduced in accordance with the current schedule which is available from the Clerk upon request.

oO ON DOO fF WO DY = NM PM NM NM NY NY YD HM ND |= Ba AB Be sa a aa a a on oa FF WwW NH |= OD O DB N DO F&F WO DN = (e) Order for Disbursement of Registry Funds. Payment of funds from any funds deposited pursuant to this General Order shall be by order of the Court only. The form of order submitted shall contain the names of the parties to whom funds are to be paid, the amounts to be paid and a statement acknowledging the fee for the interest earned will be deducted before payment of funds will be distributed. (f) Copy of Order. Counsel obtaining an order as described above will serve a copy on the Clerk of Court, when the order has been signed. Dated: November 18, 2004 \ hed Je wy T Michael S. McManus Whitney Rimel Chief Bankruptcy Judge Bankruptcy Judge AT Chiistopher M. Klein Thomas C. Holman Bankruptcy Judge Bankruptcy Judge C “Jane Dickson McKeag W. Richard Lee Bankruptcy Judge Bankruptcy Judge