In the context of a bankruptcy case, this refers to the date (set by the court) on or before which a proof of claim must be filed. Otherwise, the claim may be barred and the claimant entitled to no distribution from a plan or from the proceeds of the liquidation of debtor’s assets. Again, to distinguish this from the Match.com context, a creditor should not flirt with a bar date, but should compose its proof of claim and file it as soon as practicable, always keeping an eye on the case docket for any special case rules imposed on the filing of claims.
The editors and editorial board of DailyDAC include preeminent restructuring and insolvency professionals, journalists, and editors. They are devoted to providing reliable and plain English education and deal intelligence about assignments, corporate bankruptcy, receiverships, out-of-court workouts and similar topics.