Don't Sign Your Creditor-Client's Proof Of Claim

Law360, New York (November 9, 2013, 12:57 AM EST) -- Preparing a proof of claim is a relatively easy task. As one court has noted, the proof of claim form is not elaborately detailed and may take only five minutes to complete.[1] This simple task can result in extremely adverse consequences for a creditor and its counsel, if counsel, as opposed to the creditor-client, signs the proof of claim form. This problem is of relatively recent vintage, and arises out of an amendment to Official Form 10, the proof of claim form. In 2011, section 8...
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