Deadline for Creditors of Perkins & Marie Callender's Restaurant Companies to File Proofs of Claim Set


Judge Kevin Gross of the Delaware bankruptcy court entered an order last week setting the deadline (or bar date) for creditors of the Perkins & Marie Callender's restaurant companies (full list of corporate entity names included below) to file proofs of claim on account of certain pre-bankruptcy obligations. The companies voluntarily filed for bankruptcy protection on June 13, 2011 and an Official Committee of Unsecured Creditors was appointed late last month.

The order requires all persons and entities (such as corporations and partnerships) that assert that they hold claims against any of the debtor entities which arose on or prior to the date of the companies' bankruptcy filings (June 13, 2011) to file a proof of claim on account of such claim so that it is actually received on or before August 16, 2011 at 4:00 p.m. Eastern time. The bar date applies to claims asserted under section 503(b)(9) of the Bankruptcy Code, in addition to all other pre-petition claims. Governmental units are required to file proofs of claim so as to be received on or before December 12, 2011 at 4:00 p.m. Eastern.

Certain claims are excluded from the bar date by the court's order. Excluded claims include claims that have been paid in full by the debtors. Creditors whose claims are listed in the debtors' schedules of liabilities (which were filed with the bankruptcy court yesterday as well) do not need to file proofs of claim if all three of the following conditions are met: (i) the claim is not described in the schedules as "disputed," "contingent," or "unliquidated"; (ii) the creditor does not dispute the amount or classification of the claim set forth in the schedules; and (iii) the creditor does not dispute that the claim is an obligation of the specific debtor (i.e., legal corporate entity) against which the claim is listed in the schedules. Other exclusions from the bar date can be found in the court's order.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Randall Reese, Restructuring Concepts LLC | Attorney Advertising

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