Answers to the 7 Most Asked Questions
- Is there a time limit for filing claims?
Yes. There are two deadlines for the filing of customer claims:
- Court deadline. The time set by the bankruptcy court for
filing of customer claims is usually 60 days after the date
the notice of the proceeding is published, but could be as
little as 30 days after the publication date. The deadline
appears in the published notice and a copy of the notice is
mailed to customers along with claim forms and instructions
that also prominently display the date. Pay close attention
to the deadline set forth in the notice and be certain the
trustee receives your claim in a timely manner.
- Federal law deadline. If your completed claim form is received
by the trustee after the date set by the bankruptcy court
but no later than six months after public notice is published,
the claim is subject to delayed processing and, possibly,
limited payment. The six-month deadline is set out in the
federal law governing SIPC. The federal deadline absolutely
bars any claim that is received more than six months after
the publication date. Except for some very narrow exceptions,
there are no grounds for time extensions beyond the deadline.
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