If someone owes you money, you have the right as a creditor to file a claim. If the debtor is in insolvency proceedings, filing a claim is a formal step by the creditor to recover the money owed to them. However, the whole process of filing a claim has strict formalities. Learn how to file a claim and the consequences and issues involved.
Not sure how to fill in the application form or whether your claim is correctly documented? Take advantage of our legal advice.
Filing a claim is a legal act by which a creditor officially notifies the insolvency court and the insolvency administrator of the existence of its claim against the debtor. If the creditor did not take this step, it would not be included in the insolvency proceedings and would not have a chance to satisfy its claim from the debtor’s assets. Without filing a claim, the creditor is not entitled to have its claim satisfied in the proceedings, even if the debtor has sufficient assets.
The filing of claims is governed by the Insolvency Act (on bankruptcy and its resolution), which sets out the procedure for filing claims, deadlines and other formalities. If a creditor fails to file its claim in time, it automatically loses the possibility to participate in the insolvency proceedings and its claim becomes unenforceable.
Creditors are not only companies, but often include so-called ordinary people who are not versed in the law or in debt-related matters. They have lent money to someone in good faith and are now in trouble because they do not know how to get their money back from the debtor. If you are one of these people, don’t be afraid to use our legal advice centre where we will be happy to help you with the whole matter. Our lawyer will contact you within 48 hours.
Compliance with the statutory deadline for filing a claim is of course a prerequisite for a creditor to be able to claim satisfaction of the claim. This period starts on the date of publication of the debtor’s bankruptcy order in the insolvency register. Creditors then have a two-month period to file their claim, the specific deadline being specified in the insolvency court’s decision on the debtor’s insolvency.
If creditors miss this deadline, their claims will not be satisfied in the insolvency proceedings. This can have serious consequences for creditors, especially if their claim is unsecured.
A claim is always filed using the prescribed form available on the Ministry of Justice website. There you will find more detailed information and a link to the form. If you have a data mailbox, it is only right, as you can submit the form electronically via this tool. Alternatively, you can also submit it via eFiling.
Be careful to fill in the application thoroughly and really correctly. Even a minor mistake can cause the insolvency administrator to reject your application for a claim and you will lose your right to recover. Therefore, if you are unsure whether your application is completed correctly, it is worth having it checked by a solicitor before you file.
Creditors have a number of rights after filing a claim in insolvency proceedings. Among the most important are the right to attend creditors’ meetings, where they can vote on key issues relating to the progress of the insolvency proceedings, including the approval of a reorganisation plan or proposals for the resolution of the insolvency.
Creditors also have the right to examine the claims filed by other creditors and to object if they consider that a claim is not justified.
On the justice.cz website, you will find a form that you must fill out if you want to file your claim so that the debtor will pay you.
Yes, even the claims filed can be divided into different categories according to their nature and legal status.
The first is secured claims. These are those that are covered by a pledge, guarantee or other type of security. A creditor with a secured claim is entitled to have it satisfied with money from the sale of the debtor’s assets. Such claims have priority in the distribution of the debtor’s assets.
Logically, the opposite is true for unsecured claims, i.e. claims that are not covered by any security right. Satisfaction of such claims comes after the secured claims, so they may not even be covered if the assets are insufficient to pay all the debts.
The last type we could mention is contingent claims. The maturity of these claims depends on certain conditions being met, so that until a certain event occurs, which is specified in the contract between the creditor and the debtor, these claims cannot be paid.
Receivables against the estate and their equivalents are a separate category. These are not ordinary registered claims, as they are generally not filed with the insolvency court but directly against a person with powers of disposal, usually the insolvency administrator. These include, for example, the insolvency practitioner’s remuneration and expenses, certain taxes, fees or employment claims.
The filing of a claim may vary depending on the type of insolvency proceedings the creditor is in.
Bankruptcy is a liquidation process where the debtor’s assets are sold. The proceeds are then distributed to creditors in a predetermined order. The filing of a claim is necessary precisely in order for a creditor to be included in the distribution of the proceeds of the bankruptcy estate. Creditors have two months to submit their claims.
The reorganisation allows the debtor to continue to operate, but only under the supervision of creditors who file their claims and participate in the drafting of the reorganisation plan. This plan determines how creditors will be satisfied. Creditors have the right to vote on the reorganisation plan and thus have a greater influence on the course of the proceedings.
Insolvency is for natural persons and legal entities that are not considered entrepreneurs and do not have debts from their business. Creditors file their claims in the procedure and their satisfaction depends on the debtor’s income during the duration of the arrangement. Creditors participate in the distribution of the debtor’s income and in the eventual sale of his assets.
Unfiled claims cannot be satisfied in the insolvency proceedings, and creditors lose the opportunity to recover their money. However, there are some exceptions that allow you to file a claim later.
If the insolvency practitioner rejects the claim, the creditor can go to court, but the likelihood of success is usually limited.
Our law firm is often contacted by creditors who have a debt well documented by contract, invoices or acknowledgement of debt, but are unsure how to properly file the claim in insolvency proceedings. The most common problem is not the existence of the debt itself, but errors in the form, inaccurately quantified accessories or missing attachments.
In one typical case, a client came to us with several unpaid invoices against a business partner and only found out from the insolvency register that insolvency proceedings had already been opened against the debtor. We first checked the deadline for filing, then went through the supporting documents for each invoice, correctly divided the principal and accessories and completed the documents proving the origination and maturity of the claim. At the same time, we checked whether the claim was a special regime claim.
The result was a timely and proper filing of the claim without the need for subsequent corrections. In similar cases, clients are most often assisted by a careful check of the form, attachments and the correct legal basis of the claim before filing.
Filing a claim is a crucial step for creditors in insolvency. It is not enough to know that someone owes you; it is crucial that you file your claim in a timely and correct manner in the insolvency proceedings. In practice, the biggest risks are missing a deadline, using inaccurate information or failing to provide sufficient proof of claim. It is also important to distinguish whether the claim is secured, unsecured or a special regime claim. If you are unsure how to prepare the application, it is worth checking everything before you submit it. It is often not only whether the claims exist, but also whether they are filed correctly and on time.
Yes, if the claim is to be satisfied in insolvency proceedings and is not a special regime claim.
In the bankruptcy decision published in the insolvency register.
As a rule, your claim will no longer be settled in the proceedings.
Yes, typically electronically via a prescribed form and data box or ePost office. Forms are published by justice.cz.
Yes, it is advisable to attach anything you use to prove the claim, such as contracts, invoices or judgments.
Typically, when it is covered by a pledge, guarantee or other security institution.
Yes, even for a single claim, a mistake in the form or attachments can mean an unnecessary problem or loss of the claim.
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