Podcast
Questions and Answers
What is the burden of proof for a claimant to prove the validity of a claim after a party in interest successfully meets their burden of proof?
What is the burden of proof for a claimant to prove the validity of a claim after a party in interest successfully meets their burden of proof?
- Probable cause
- Beyond a reasonable doubt
- Clear and convincing evidence
- Preponderance of the evidence (correct)
Under what circumstances can a debtor assert a defense to paying a debt inside of bankruptcy?
Under what circumstances can a debtor assert a defense to paying a debt inside of bankruptcy?
- If the debt is disputed by the claimant
- If the debt is a priority claim
- If the debt is unenforceable under applicable non-bankruptcy law or agreement (correct)
- If the debt is related to future rents
What happens if a claim is unenforceable under applicable non-bankruptcy law or agreement?
What happens if a claim is unenforceable under applicable non-bankruptcy law or agreement?
- The claim is given priority status
- The claim is subject to post-petition interest accrual
- The claim is disallowed (correct)
- The claim is automatically allowed
What is the status of priority claims if filed late?
What is the status of priority claims if filed late?
Study Notes
Burden of Proof in Claim Validation
- A claimant has the burden of proving the validity of their claim after a party in interest successfully meets their burden of proof.
Asserting Defenses in Bankruptcy
- A debtor can assert a defense to paying a debt inside bankruptcy if they have a valid defense that would be available outside of bankruptcy.
Unenforceable Claims
- If a claim is unenforceable under applicable non-bankruptcy law or agreement, it will not be allowed in bankruptcy.
Priority Claims
- If a priority claim is filed late, it will be treated as a general unsecured claim, and will not retain its priority status.
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Description
Test your knowledge of the disallowance of claims in bankruptcy with this quiz focusing on the process of filing a Proof of Claim and the automatic allowance of claims unless objected by a party in interest. Brush up on your understanding of this crucial aspect of bankruptcy proceedings.
