Chapter 12 bankruptcy creditors and claims

Chapter 12 bankruptcy creditors must file their claims within 90 days of the date of the meeting of creditors. There are four exceptions to this rule:

  1. Claims of governmental units.
  2. Claims for infants and incompetents.
  3. Unsecured claims allowable as a result of judgments filed 30 days after the appeal period expires.
  4. Claims that arise because of rejection of executory contracts.

If a Chapter 12 bankruptcy creditor has not filed a proof of claim within the 90-day period, the debtor, trustee or other interested party may file a claim on the creditor’s behalf. If a creditor files a claim thereafter, the creditor’s claim will supersede any claim.Priority claims under Chapter 12 are as follows:

  • Wages/salaries, commissions not exceeding $10,950 each, earned within 180 days prior to filing or cessation of business.
  • Contribution to employee benefit programs within 180 days prior to filing or cessation of operations.
  • Claims of farmers or United States fishermen not exceeding $5,400 each.
  • Deposits by individuals not exceeding $2,425 for the purchase, lease, or rental of property or services not delivered or rendered.
  • Federal, state or local taxes.

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