Involuntary Petition: Transferred Claims; Joining Other

Creditors; Additional Time to Join (a) TRANSFERRED CLAIMS. An entity that has transferred or ac- quired a claim for the purpose of commencing an involuntary case under Chapter 7 or Chapter 11 is not a qualified petitioner. A peti- tioner 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 un- conditional, 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. (1) Rule 1004 FEDERAL RULES OF BANKRUPTCY PROCEDURE 2 (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 credi- tor’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 credi- tors to join the petition before holding a hearing on it. (As amended Mar. 30, 1987, eff. Aug. 1, 1987; Apr. 2, 2024, eff. Dec. 1, 2024.)