Filing Claims

July 2, 2013

File Early and Often: Filing and Amending Claims in a Bankruptcy Case

  • Michael D. Schwarzmann
  • David Gottlieb
  • Crowe Horwath LLP
  • Los Angeles, California
  • (818) 501-5200

Bankruptcy claims do more than simply determine the amount of money a creditor is owed or can receive as a distribution. Claims also can generate clout, and clout enables a creditor to sit on a creditor committee, have more leverage in negotiations, and claim a higher-priority right to payment – that is, to skip ahead in the bankruptcy claims’ distribution line. In Chapter 11 cases, the creditors with the largest claims against the debtor are...

April 24, 2013

Dear Debtor: I Thought I Was Your Priority?

  • Patrick C. Maxcy
  • Dentons
  • Chicago, Illinois
  • (312) 876-2810

If you are a vendor, service provider or other unsecured creditor to a chapter 11 debtor, you cannot be blamed for feeling like a duped lover after learning about the bankruptcy of your once devoted business companion. Despite the promises that "I’ll stand by you if you stand by me," all those outstanding invoices won’t be paid after all. If it helps soothe the pain (and of course it won’t), it's not just you. The...

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