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TIME FOR FILING PROOF OF CLAIM: Except for Chapter 11 cases, a creditor's right to be paid in a Bankruptcy action depends on the timely filing of a Proof Of Claim. A creditor should consult legal counsel immediately upon acquiring knowledge of the filing of a Bankruptcy.
Chapters 7, 12, 13
Chapter 11
LAWDOG is intended to assist in the understanding of basic concepts. See Disclaimer. Always obtain legal advice from legal professionals.
Bankruptcy Rules, Rule 3002(c) provides that:
In a chapter 7 liquidation, chapter 12 family farmer's debt adjustment, or chapter 13 individual's debt adjustment case, a proof of claim is timely filed if it is filed not later than 90 days after the first date set for the meeting of creditors called under section 341(a) of the Code, except as follows:
(1) A proof of claim filed by a governmental unit is timely filed if it is filed no later than 180 days after the date of the order for relief. On motion of a governmental unit before the expiration of such period and for cause shown, the court may extend the time for filing of a claim bythe governmental unit.
(2) In the interest of justice and if it will not unduly delay the administration of the case, the court may extend the time for filing a proof of claim by an infant or incompetent person or the representative of either.
(3) An unsecured claim which arises in favor of an entity or becomes allowable as a result of a judgment may be filed within 30 days after the judgment becomes final if the judgment is for the recovery of money or property from that entity or denies or avoids the entity's interest in property. If the judgment imposes a liability which is not satisfied, or a duty which is not performed within such period or such further time as the court may permit, the claim shall not be allowed.
(4) A claim arising from the rejection of an executory contract or unexpired lease of the debtor may be filed within such time as the court may direct.
(5) If notice of insufficient assets to pay a dividend was given to creditors pursuant to Rule 2002(e), and subsequently the trustee notifies the court that payment of a dividend appears possible, the clerk shall notify the creditors of that fact and that they may file proofs of claim within 90 days after the mailing of the notice.
Bankruptcy Rules, Rule 3003 provides that it shall not be necessary for a creditor or equity security holder to file a proof of claim or interest except that:
Any creditor or equity holder whose claim or interest is not scheduled or scheduled as disputed, contingent, or unliquidated shall file a proof of claim or interest within the time fixed by the Court, or:
[B. R. 3002(c)(2)]: In the interest of justice and if it will not unduly delay the administration of the case, the court may extend the time for filing a proof of claim by an infant or incompetent person or the representative of either.
[B. R. 3002(c)(3)]: An unsecured claim which arises in favor of an entity or becomes allowable as a result of a judgment may be filed within 30 days after the judgment becomes final if the judgment is for the recovery of money or property from that entity or denies or avoids the entity's interest in property. If the judgment imposes a liability which is not satisfied, or a duty which is not performed within such period or such further time as the court may permit, the claim shall not be allowed.
[B.R. 3002(c)(4)]: A claim arising from the rejection of an executory contract or unexpired lease of the debtor may be filed within such time as the court may direct.
Portions of Bankruptcy Rules Rule 3002 and Rule 3003 are included below for illustration purposes only.
