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Legal Alert - Coming Soon: Bankruptcy Proofs of Claim Must be Filed Sooner and by More Claimants

09/06/2017

by Nathan G. Kanute

Bankruptcy Rule 3002 is getting an update, which goes into effect on December 1, 2017. Creditors in a Chapter 7 (liquidation), Chapter 12 (family farmer), and Chapter 13 (individual reorganization) bankruptcy need to take heed of this change for two reasons: (1) the rule now requires secured creditors to file proofs of claim; and (2) the time to file a proof of claim has been cut nearly in half.

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