The 30 days that decide everything: the deadline for creditors' claims
A creditor who misses the 30-day deadline remains a competitive creditor but loses the decisive vote at the creditors' meeting and in the creditors' committee. They observe rather than decide.
The deadline and when it starts
Competitive creditors whose claims arose before the proceedings were opened file written applications with their claims and supporting documents with the commercial court within 30 days from the official publication of the announcement on the opening of bankruptcy proceedings (Article 45(1) of the Code of Ukraine on Bankruptcy Procedures).
The deadline runs from the publication of the announcement, not from the day you learned about the case. The creditor whose application opened the proceedings may file additional monetary claims within the same period (Article 45(2) of the Code).
What happens if you are late
Under Article 45(4) of the Code, a creditor who files claims after the deadline:
- remains a competitive creditor but has no decisive vote at the creditors' meeting or in the creditors' committee;
- is bound by the actions already taken in the proceedings, just like those who filed on time;
- cannot claim back funds already paid to other creditors before their application was filed.
Secured creditors also have something to file
Secured creditors file an application for the unsecured part of their claims. The part of a claim that exceeds the value of the collateral is deemed unsecured (Article 45(2) of the Code). If the collateral does not fully cover the debt, the 30-day deadline applies to you too.
How not to miss the deadline
- Monitor your debtors. Check key debtors in the "Case status" service and the Unified State Register of Court Decisions.
- Keep documents ready. The contract, acts, invoices, court decisions and a calculation of the amount. Collecting them within the 30 days is an unnecessary risk.
- File early, not on the last day.