Legal Question in Bankruptcy in Delaware
re: Proof fo Claim. Chapter 11
A customer has paid debt and has zero balance. Filed chp 11 sixty days after paying debt to us. Is a proof of claim necessary to file?
Asked on 3/17/04, 11:35 am
1 Answer from Attorneys
Bruce W. McCullough
Bodell, Bove', Grace & Van Horn. P.C.
Re: re: Proof fo Claim. Chapter 11
If you are not owed money as of the date of the bankruptcy filing, there no longer is a debt for which you would file a Proof of Claim. The debtor has two years from the date the bankruptcy petition was filed, however, to file an adversary complaint against you for return of a "preference payment" made in the last 90 days before the bankruptcy petition was filed.
Adversary complaints in Delaware bankruptcy cases typically are filed close to the two-year limit. You should consult an attorney about possible defenses if you get sued.
Answered on 3/17/04, 1:45 pm