|
By Diane P. Furr
Preparing and filing a Proof of Claim in a bankruptcy case is not always as simple as one might think considering that the form is a simple document with instructions attached. However, there are potential pitfalls involved in preparing and filing a Proof of Claim. Creditors who fall victim to these pitfalls have been the subject of unpleasant surprises in recent bankruptcy cases. In addition, new bankruptcy rules regarding requirements for creditors in the claims they make in bankruptcy cases in general become effective on December 1, 2011. Please note that all references to Section numbers in this article refer to specific Sections of the Bankruptcy Code.
• Be sure to file where directed: Proofs of Claim generally are filed with the Clerk of Court in the district and division of the bankruptcy court where the debtor’s bankruptcy is filed. Often in large Chapter 11 cases, though, claims are directed to be filed with a claims agent instead of the Clerk. In addition, some debtors obtain detailed court orders setting forth specific procedures for filing which differ from traditional instructions and may require sending copies of the Proof of Claim to additional parties in order to have the claim considered properly filed. If you receive an order setting bar dates filing a for Proof of Claim, read carefully! If you are in a Chapter 13 case, be aware that many districts require a Chapter 13 claim to be filed with the Chapter 13 Trustee instead of the Clerk.
• Who is the debtor? In bankruptcy cases where there are multiple debtor affiliates and corporations, the creditor should make proper inquiries and verify that it is filing its Proof of Claim in the proper corporate debtor bankruptcy case and not in the bankruptcy case of a ...
+ read more |
