Proof of Claims

News & Analysis as of

M.D. Fla. Holds Bankruptcy Code Preempts FDCPA For Filing Time Barred Proofs of Claim

In Castellanos v. Midland Funding, LLC, 15-CV-559 (M.D. Fla. Jan. 4, 2016) the United States District Judge John Steele joined with several of his Middle District of Florida colleagues and held that the Bankruptcy Code...more

Filing a Proof of Claim after Crawford: the Potential for Creditors to Face FDCPA Violations in the Eleventh Circuit

The language of Bankruptcy Code § 501(a) is as broad as it is simple. "A creditor or an indenture trustee may file a proof of claim." The Bankruptcy Code's definition of "claim" only broadens § 501(a)'s scope: a "claim" means...more

New Bankruptcy Forms Affect Residential Mortgage Lenders, Servicers

Sweeping changes to the federal bankruptcy forms went into effect on December 1, 2015. The changes pertaining to proofs of claim for residential mortgage loans are especially significant. The new forms are to be used in all...more

Bankruptcy & Creditors' Rights News: Updated Forms for U.S. Bankruptcy Court

As of December 1, 2015, many of the Official Forms for use in Bankruptcy Courts were updated. The changes were made as part of a forms modernization effort. Among the forms updated was the Official Proof of Claim Form...more

Bankruptcy Form Revisions – A Welcome Change

December 1, 2015, marked the day many bankruptcy professionals and debtors, whether they were generally aware or not, were waiting for. After much effort by the Advisory Committee on Bankruptcy Rules over the span of several...more

Bankruptcy Proof of Claim Form Gets a Makeover

Several of the Official Bankruptcy Forms will be replaced on December 1, 2015. For creditors, the most notable changes will be to two forms: the Proof of Claim form, Form 410, and the Mortgage Proof of Claim Attachment, Form...more

Major Update to Bankruptcy Forms Effective December 1, 2015

On December 1, 2015, the Official Forms for use in bankruptcy courts will be updated. The changes were made as part of a forms modernization effort. Almost all of the Official Forms are being updated, including the bankruptcy...more

Bankruptcy Beat: The Second Circuit Establishes a Binding Standard For Lien Extinguishment Under a Plan of Reorganization

The Second Circuit Court of Appeals recently issued an opinion, City of Concord, N.H. v. N. New England Tel. Operations, LLC (In re N. New England Tel. Operations LLC), 795 F.3d 343 (2d Cir. 2015), addressing an issue of...more

Ninth Circuit Permits Lien-Voidance for Chapter 20 Debtors

Bankruptcy practitioners routinely advise secured creditor clients to file protective proofs of claim in bankruptcy proceedings despite those clients’ ability to ignore bankruptcy proceedings and decline filing claims without...more

Lincoln General Insurance Company Enters Liquidation in Pennsylvania

The Insurance Commissioner of Pennsylvania has placed Lincoln General Insurance Company into liquidation in Pennsylvania. As a result, the Insurance Commissioner as Liquidator takes over the property, business, and affairs of...more

New Case Poses Threat to Mortgage Servicers in Bankruptcies

A new decision from the U.S. Court of Appeals for the Ninth Circuit poses a serious threat to mortgage companies that service mortgages of chapter 13 debtors. Mortgage servicers should be aware of the case's implications and...more

California Court Gets It Wrong On HRT Class Action

We understand that not everyone shares our view of class actions, but we hold certain truths to be self-evident: The government, including its courts, cannot order someone to give money to someone else without due process of...more

Kemper Insurance Company Contingent Claims Filing Deadline Is Fast Approaching: What You Need To Know - M&E Insurance Coverage...

Lumbermens Mutual Group, formerly known as Kemper Insurance Company (or just as Kemper), is comprised of Lumbermens Mutual Casualty Company, American Motorists Insurance Company, and American Manufacturers Mutual Insurance...more

Alabama Bankruptcy Court Holds That Filing Proof of Claim for Time-Barred Debt Cannot Give Rise to FDCPA Claim or Sanctions

In Jenkins v. Midland Credit Management, Inc., the U.S. Bankruptcy Court for the Northern District of Alabama held that the filing of a proof of claim based on a time-barred debt cannot give rise to a claim for damages under...more

Recent Eleventh Circuit Decision Subjects Debt Collectors to FDCPA Liability for Filing Proofs of Claim as to Time-Barred Debts

Debt collectors filing bankruptcy proofs of claims in the Eleventh Circuit should take caution, as they will now be subject to the Fair Debt Collection Practice Act, 15 U.S.C. §§ 1692-1692p (FDCPA). In Crawford v. LVNV...more

What General Counsel Should Know When a Company's Tenant Files for Bankruptcy

Your tenant files for bankruptcy-what’s your move? Debtors who are lessees under real property leases have certain rights regarding their lease under § 365 of the Bankruptcy Code. Essentially, the debtor has two options: 1)...more

Claim Amount: It Pays To Pay Attention

In re Walker, 526 B.R. 187 (E.D. La. 2015) – The bankruptcy court (1) denied a mortgage lender’s request to file a late amendment to a proof of claim that had been filed on its behalf by the debtor and (2) confirmed the...more

Cavalry Portfolio Services fined $175,000 by Arizona

Cavalry Portfolio Services is a junk debt buyer that files a lot of debt collection lawsuits here in Arizona. Often times they file the lawsuit under names such as Cavalry SPV. On March 30, 2015 the Arizona Department of...more

When A Parent Files For Bankruptcy Colleges May Forfeit Tuition Payments

While it is hard to imagine that a college or university could be forced to refund tuition paid years ago that enabled Student to receive a college education, this scenario is now playing out with increasing frequency. Many...more

Confusion Surrounds the Fair Debt Collection Practices Act

The United States Supreme Court recently declined to review Crawford v. LVNV Funding, LLC, 758 F.3d 1254, 1257 (11th Cir. 2014) cert. denied, No. 14-858, 2015 WL 246891 (U.S. Apr. 20, 2015), an Eleventh Circuit decision that...more

Seventh Circuit Says Secured Creditors Must File Proof of Claim Within Ninety Days of Meeting of Creditors

Timely proof of claim filings by secured creditors have “been a thorn in the side of many Chapter 13 cases involving secured creditors,” according to Judge Wood in In re Pajian. However, a recent Seventh Circuit decision may...more

Customers Submit Claims in Mt. Gox Bankruptcy

Thousands of creditors may receive disbursements from the bankruptcy of MtGox, Co. Ltd., a Japanese corporation that once ran the world’s largest Bitcoin exchange. The bankruptcy filing last year was a rude awakening to Mt....more

Insolvency: What Every Technology Company Needs to Know About Claims Against Bankrupt Customers And Business Partners

Every year, otherwise successful technology companies lose untold sums of money and valuable intellectual property rights because they do not act when a customer or business partner files for bankruptcy protection. Far less...more

Eleventh Circuit Approves Non-Consensual, Non-Debtor Releases in Chapter 11 Plan

In March 2015, the Eleventh Circuit Court of Appeals made clear that bankruptcy courts in that circuit can, under certain circumstances, confirm a Chapter 11 plan that includes non-consensual, non-debtor releases – the...more

Mortgage Notes: Those Nasty Assignments!

In re Baber, 523 B.R. 156 (Bankr. E.D. Ark. 2014) – The debtors objected to a proof of claim filed on behalf of a mortgagee based on issues arising from assignment of the mortgage note by the lender that originated the...more

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