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i. Claims Resolution. The Plan provides a procedure under which claims <br />will be allowed or disallowed. A claim is deemed allowed unless a timely objection is <br />filed. The Plan permits any party in interest to file objections to any claim and <br />establishes various deadlines for the filing of objections to claims. The deadlines vary, <br />depending on when the claim was filed. For most claims, the deadline will be ninety <br />days after the Effective Date. It is anticipated that the Debtor will be primarily <br />responsible for the filing and prosecution of objections to claims. <br />ii. Executory Contracts. In its schedules, the Debtor listed no executory <br />contracts and unexpired leases. The Plan proposes that any executory contracts or <br />unexpired leases identified in this Disclosure Statement will be assumed and that all <br />others will be rejected. The Chapter 11 Trustee does not intend to assume any executory <br />contracts or unexpired leases in conjunction with confirmation of the Plan. Therefore, <br />all executory contracts and unexpired leases that have not previously been assumed or <br />rejected by an order of the Court shall be rejected, effective on the Effective Date. <br />iii. Modification of the Plan. The Plan may be modified before or after the <br />Confirmation Date. pursuant to Section 1127 of the Code. <br />iv. Default and Remedies. The Plan provides the following with regard to <br />any default and the remedies for any default under the Plan: Ifthe holder of an Allowed <br />Claim claims a default under the Plan, including a payment default, it must notify the <br />Chapter 11 Trustee and the Debtor in writing. The Chapter 11 Trustee or the Debtor shall <br />then have ten days to dispute the default. If there is a dispute, then the Bankruptcy Court <br />will decide the dispute. However, after entry of a Final Decree, the determination of a <br />default will be made by a court of appropriate jurisdiction. If the default is not disputed, or <br />if disputed, after a default has been determined to have occurred by the Court, the Chapter <br />11 Trustee has thirty days to cure the default. If it does not, then the party claiming the <br />default may pursue its remedies under applicable non -bankruptcy law. <br />V. Retention of Jurisdiction. Notwithstanding entry of the Confirmation Order, <br />or the Effective Date having occurred, the Court, following Confirmation of the Plan, shall <br />retain jurisdiction over the Plan and over the bankruptcy case and proceedings or other <br />matters arising in or relating to the Debtor's case or arising under the Code to the full extent <br />permitted by law and to the full extent necessary to carry out the purposes of the Plan. <br />vi. Payment of U.S. Trustee's Fees. On the Effective Date of the Plan, any <br />quarterly fees that came due on or prior to the Effective Date will be paid as administrative <br />expenses. Following the Effective Date, the Debtor will continue to remit quarterly fees to <br />the U.S. Trustee to the extent required by the 28 U.S.C. section 1930(b). <br />vii. Final Decree. The Chapter 11 Trustee will file a Motion for entry of a final <br />15 <br />