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Proofs of Claim

Presented by Steven R. Fox

(6,387 Ratings)
LexVid

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Course Description

Length: 1h 1min    Published: 11/8/2023    
A proof of claim in bankruptcy is a legal document where a creditor states what is owed to them. The proof of claim has many nuisances that bankruptcy attorneys representing creditors must fully understand in order for their clients' to have a successful outcome in the case. This course will walk bankruptcy attorneys through the ins and outs of proof of claims, covering topics such as types of claims, priority claims, filing issues, deadlines, and many more.
Learning Objectives
* Know how to complete the proof of claim form
* Understand the types of claims
* Learn how to navigate proof of claim filing issues
Read the course transcript.

Speaker Q&A

Question
If the debtor files the roof of claim for a preference creditor how does that effect the jury trial right of a preference creditor?
- EarlF
Answer
Facts in the scenario: Bankruptcy case filed, the debtor files a proof of claim for a creditor who is subject to a preference claim, apparently the debtor then files a preference claim against the creditor and the creditor wants a trial by jury. In the normal situation, a creditor that files a claim in a bankruptcy case gives up a right to trial of a preference claim. Here the debtor filed the proof of claim and the concern of the creditor is the loss of the right to trial by jury. Thoughts: I don’t’ have a direct answer. I have some thoughts that may get this creditor to the result it wants. A jury trial would mean that the action would be heard at some point by a district court. Normally claims are filed by creditors though a debtor may file a claim for a creditor. A creditor can move to withdraw a proof of claim. Fed’l Rules of Bankr. Proc. Rule 3006. The text of the rule does not indicate that the creditor has to have filed the claim. The rule’s text states that a creditor may withdraw a proof of claim. There are limitations on the ability to withdraw a filed claim so check out the rule. I took a quick look at case law on this and saw a general trend that the courts will permit a creditor to withdraw a claim if a matter has not progressed far. I suspect a court with these facts – that the debtor, not the creditor, filed the proof of claim – would be sympathetic to what the creditor would characterize as game playing by a debtor.
- Steven R. Fox

Presented By:

Steven R. Fox

Encino, CA

(818) 774-3545

srfox@foxlaw.com

Featured Reviews

"This is one of the best courses I have taken in many years of law practice. Very well organized and explained."

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