Using a Preprinted Checklist

Managing the credit department's activities following a bankruptcy filing using a preprinted Checklist can save time and money, and more importantly doing so can prevent mistakes.

• Important activities that should be included on the Checklist include:

• Promptly sending a reclamation notice on shipments sent within ten days of the bankruptcy filing date.

• Reviewing payments received from the bankrupt debtor within 90 days of the bankruptcy filing date to determine the potential amount of reclamation claims [if any]

• Calculating how much product was shipped to this customer in the 90 days prior to the filing date

• Reprinting copies of all invoices, debits and credits open on the filing date, along with at least two copies of the entire account statement.

• Ordering proof of delivery on all open invoices

• Promptly reviewing every document received from the Court to be sure that no action is required

• Filing a Proof of Claim before the bar date

  • Including the required supporting documentation with the proof of claim

  • Completing it in its entirety

  • Signing the Claim

  • Send the Claim to the court by registered letter

  • Confirming your company's Claim was received and was filed by the court

  • Keeping a copy of every documentation sent to the court