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What is filing a bankruptcy claim? It is the act by which you, as a creditor, notify the trustee of a bankrupt company of your claim, so that it is included in the distribution of the estate. The basis is found in Article 110 of the Bankruptcy Act (Fw): you submit your claim, accompanied by supporting documents, to the trustee, who places the claim on the list of provisionally acknowledged or disputed claims. In principle, anyone who fails to file will not share in any potential distribution. Filing is therefore the first and most important step to recovering any of your money.
The short answer
- It is reporting your claim to the trustee of a bankrupt company.
- Legal basis: Art. 110 of the Bankruptcy Act, submission with supporting documents.
- The trustee places the claim on the list of recognized or disputed claims.
- At the verification meeting (Articles 108 to 119 of the Bankruptcy Act), claims are definitively established.
- Preferential creditors take precedence over concurrent creditors.
- In principle, anyone who does not submit a claim does not share in the benefit.
What exactly is filing a bankruptcy claim?
If a debtor goes bankrupt, the court appoints a trustee who liquidates the assets and distributes the money among the creditors. To participate, you must register your claim. You do this by notifying the trustee in writing of the amount you are owed and the basis for this claim, accompanied by supporting documents such as invoices, the agreement, and reminders. The trustee assesses the claim and places it on the list of provisionally recognized claims or, if he has doubts, on the list of disputed claims. Also state whether you are claiming a priority position, as this determines your place in the ranking.
Recognized or disputed
After submission, your claim can go two ways:
- Acknowledged. The trustee accepts the claim. At the verification meeting, it is definitively established, and you participate according to your rank.
- Disputed. The trustee doubts the amount or existence. Consultation then follows, and if an agreement cannot be reached, a referral procedure at the court (Art. 122 Bankruptcy Act), in which the judge rules on the claim.
The verification meeting (Articles 108 to 119 of the Bankruptcy Act) is the meeting at which the trustee, the supervisory judge, and the creditors review the claims. However, in many bankruptcies without assets, such a meeting is not held because there is nothing to distribute.
Preferred or concurrent
The order of payment is laid down in the Civil Code. The basic principle is that creditors share equally in proportion to their claim (Art. 3:277 BW), unless the law provides for priority. This priority arises from, among other things, pledge, mortgage, and privileges (Art. 3:278 BW). In practice, this means a ranking order:
- Estate debts, such as the trustee's salary, take precedence.
- Preferential creditors such as the Tax and Customs Administration and the UWV with a privilege.
- Unsecured creditors, such as most suppliers, who are only considered if there is money left over afterwards.
For ordinary suppliers, the competitive position is the reality, and they often receive only a portion or nothing at all.
Practical example
A supplier still owes 12,000 euros to a customer who goes bankrupt. He reports the claim to the bankruptcy trustee along with the invoices and the agreement. Because he did not stipulate any collateral, he is listed as an unsecured creditor. The Tax Authorities and the trustee are paid first. Ultimately, a small payout remains, but the supplier would have received nothing at all without timely submission.
Honest recommendation
You do not need a lawyer to file a claim. For a standard, undisputed invoice, a clear letter or email to the bankruptcy trustee containing the amounts and supporting documents suffices. Many trustees have an online portal or form for this purpose. The situation changes, however, when there is a lot at stake or your position is questionable: a disputed claim, a claim regarding priority, a retention of title clause, or a contractual penalty. In such cases, legal assistance is advisable, because in a referral procedure, you must substantiate your claim before the judge. A lawyer also helps to invoke your securities in time, so that you do not end up as a concurrent creditor when you could have been a preferential creditor.
Read more about this topic: drafting a bankruptcy claim and having a bankruptcy claim drafted. You arrange the document itself via the bankruptcy claim submission.
Frequently Asked Questions
It involves notifying the trustee of a bankrupt company of your claim so that it is included in the distribution of the estate. The basis is set out in Article 110 of the Bankruptcy Act: you submit the claim accompanied by supporting documents. In principle, anyone who fails to submit does not share in the distribution.
In writing, stating the amount and the basis, and with supporting documents such as invoices, the agreement, and reminders. Many insolvency administrators offer an online portal or form. Also state whether you are claiming a priority position.
The meeting at which the trustee, the supervisory judge, and the creditors review the claims and definitively determine them (Articles 108 to 119 of the Bankruptcy Act). In bankruptcies without distributable assets, such a meeting is often not held.
The trustee doubts the existence or amount of your claim and places it on the list of disputed claims. If you are unable to reach an agreement, a referral procedure follows at the court (Article 122 of the Bankruptcy Act), in which the judge decides on the claim.
Preferred creditors have a statutory priority (Art. 3:278 BW), for example through pledge, mortgage, or a privilege such as that of the Tax and Customs Administration. Concurrent creditors share equally in proportion (Art. 3:277 BW) and are only considered once the preferred creditors have been satisfied.
That depends on your rank and what the estate yields. Unsecured creditors often receive only a portion or nothing at all, because estate debts and preferential creditors are paid first. Filing on time is a condition for participating at all.
In practice, as long as the settlement is ongoing, but the sooner the better. The trustee announces a deadline for verification. Anyone who is late risks having the claim disqualified from the distribution.
