Rule 1003 United States Federal Rules of Bankruptcy Procedure

Rule 1003 of the Federal Rules of Bankruptcy Procedure is about Involuntary Petition: Transferred Claims; Joining Other Creditors; Additional Time to Join. It is under Part I (Commencement of Case; Proceedings Relating to Petition and Order for Relief) of the Rules.

​(a) Transferred Claims. An entity that has transferred or acquired a claim for the purpose of commencing an involuntary case under Chapter 7 or Chapter 11 is not a qualified petitioner. A petitioner that has transferred or acquired a claim must attach to the petition and to any copy:

(1) all documents evidencing the transfer, whether it was unconditional, for security, or otherwise; and

(2) a signed statement that:

(A) affirms that the claim was not transferred for the purpose of commencing the case; and

(B) sets forth the consideration for the transfer and its terms.

(b) Joining Other Creditors After Filing. If an involuntary petition is filed by fewer than 3 creditors and the debtor’s answer alleges the existence of 12 or more creditors as provided in § 303(b), the debtor must attach to the answer:

(1) the names and addresses of all creditors; and

(2) a brief statement of the nature and amount of each creditor’s claim.

(c) Additional Time to Join. If there appear to be 12 or more creditors, the court must allow a reasonable time for other creditors to join the petition before holding a hearing on it.