Fed. R. Bankr. P. 1003 — Involuntary Petition: Transferred Claims; Joining Other Creditors; Additional Time to Join

Federal Rules of Bankruptcy Procedure

Rule 1003 — Involuntary Petition: Transferred Claims; Joining Other Creditors; Additional Time to Join

Fed. R. Bankr. P. 1003

SourceFederal Rules of Bankruptcy Procedure

Rule1003

PART X[ABROGATED]

CitationFed. R. Bankr. P. 1003

Fed. R. Bankr. P. 1003 (Involuntary Petition: Transferred Claims; Joining Other Creditors; Additional Time to Join) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Bluebook

Fed. R. Bankr. P. 1003.

Text

(a)TRANSFERRED CLAIMS. An entity that has transferred or ac- quired a claim for the purpose of commencing an involuntary case under Chapter 7 or Chapter 11 is not a qualified petitioner. A peti- tioner that has transferred or acquired a claim must attach to the petition and to any copy:

(1)all documents evidencing the transfer, whether it was un- conditional, for security, or otherwise; and

(2)a signed statement that:

(A)affirms that the claim was not transferred for the purpose of commencing the case; and

(B)sets forth the consideration for the transfer and its terms.

(b)JOINING OTHER CREDITORS AFTER FILING. If an involuntary petition is filed by fewer than 3 creditors and the debtor’s answer alleges the existence of 12 or more creditors as provided in §303(b), the debtor must atta

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(a) TRANSFERRED CLAIMS. An entity that has transferred or ac-
quired a claim for the purpose of commencing an involuntary case
under Chapter 7 or Chapter 11 is not a qualified petitioner. A peti-
tioner that has transferred or acquired a claim must attach to the
petition and to any copy:
(1) all documents evidencing the transfer, whether it was un-
conditional, for security, or otherwise; and
(2) a signed statement that:
(A) affirms that the claim was not transferred for the
purpose of commencing the case; and
(B) sets forth the consideration for the transfer and its
terms.

(b) JOINING OTHER CREDITORS AFTER FILING. If an involuntary
petition is filed by fewer than 3 creditors and the debtor’s answer
alleges the existence of 12 or more creditors as provided in §303(b),
the debtor must attach to the answer:
(1) the names and addresses of all creditors; and
(2) a brief statement of the nature and amount of each credi-
tor’s claim.
(c) ADDITIONAL TIME TO JOIN. If there appear to be 12 or more
creditors, the court must allow a reasonable time for other credi-
tors to join the petition before holding a hearing on it.

Advisory Committee Notes

(As amended Mar. 30, 1987, eff. Aug. 1, 1987; Apr. 2, 2024, eff. Dec. 1, 2024.)