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The Proof of Claim Form
A bankruptcy court has the power based on the exercise of applicable judicial discretion to fix a deadline for filing a claim against a debtor in bankruptcy even though by doing so some creditors with a claim against the debtor will likely be barred from filing that claim because they failed to file their claim form on or before the deadline approved by the Court. As a general statement, the bar date assigned by the bankruptcy court is a date that is both practical and equitable.
A Proof of Claim form is used in bankruptcy cases in the United States. It is a document filed with the Court that lists a creditor’s claims against the assets of the bankruptcy debtor's estate.
Copyright 2009 by Michael C. Dennis. All Rights Reserved