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The Art of Filing a Proof of Claim in a Bankruptcy Case

BY Deirdre M. Richards
October 02, 2017

This article focuses on the strategies that an equipment financier may explore when it needs to file a proof of claim in a bankruptcy case to preserve its rights. It also describes a debtor's right to object to a creditor's claim.

Background

The filing of proofs of claim and any objections thereto are governed by the Federal Rules of Bankruptcy Procedure 3001 et seq. (“Bankruptcy Rules”). As of Dec.1, 2017, the amendments to the Bankruptcy Rules (the “Amendments” or “Amended Bankruptcy Rules”) will bring notable changes to the time to file, and who must file a proof of claim. Among other changes, the Amendments will require secured creditors to file proofs of claim for their claims to be allowed (though their failure to do so will not void their liens).

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