We are the creditors of a contractor who filed for chapter 11 almost 10 months ago. We received the notice from the federal bankruptcy court, and we sent back the Proof of Claim form right away. But since then we have not heard anything. Should we have heard back about what they are doing with the case? If there is a payment plan or even if we are not getting money back, should we hear anything?
Thank you.
Meeting of the Creditors
Yes - you should have been present at the meeting of the creditors (if one has already taken place). I would assume the meeting already took place since it typically occurs 20-40 days after the Ch. 11 petition is filed. I would contact the unsecured creditors committee , appointed by the bankruptcy trustee, to see whether or not there has been a mix-up or whether your proof of claim was timely received. In general, a proof of claim may be filed electronically with the assistance of an attorney, in hand at the Bankruptcy Court, or mailed. The next step is to see whether your claim has been deemed "allowed" which happens if the claim has not been objected to. Only those creditors with allowed claims may vote on the Ch. 11 reorganization plan