When a creditor's claim is not for a sum of money, or its amount is uncertain, or it is set in a foreign currency, how is the bankruptcy claim amount fixed?
General information · Not legal advice
Material to check
In a practice file of this kind we read the proof of the claim showing what the claim's object is, whether its amount is fixed, and the currency in which it is set, since the provision turns on those facts, together with any valuation placed on the claim as at the date of the bankruptcy declaration.
These are types of material to look for, not evidence already verified by PRO SE.
Where readings differ
One reading takes the provision's triggers in turn: where a claim's object is not money, or its amount is uncertain, or it is fixed in a foreign currency, and likewise where an annuity claim's amount or duration is not fixed, the appraised value as at the date of the bankruptcy declaration becomes the amount of the bankruptcy claim, so the claim is measured at that moment.
Another reading stresses that the provision fixes the measure and the date of that measure but says nothing about how the appraising is to be carried out or on what evidence, so the method of appraisal remains open while the date itself is settled by the provision.
Your judgment
Where the appraised value as at the bankruptcy declaration is contested, what method and evidence could the file offer to establish that value?
PRO SE does not make this decision or keep a case record on this public site.When to reconsider
We look at this again if the provision is amended to change which claims are measured by appraised value or to specify the method of appraisal, or if a court decision settles how the appraisal of a non-monetary or foreign-currency claim is to be made.