Monetary Claims - How to file in court - Proof Of Claim - THP - T.H. Properties CH11

[administrator]

FAQ : http://www.wheresbuilder.com/index.p...proof-of-claim

In an effort to help save monies from the pockets of existing THP homeowners and future homeowners, if you are unable to get legal help or guidance, I would like to provide a bit of information passed to me in my BBB response.

It states :

"On 04/30/2009, the company filed for reorganization under Chapter 11 of the federal Bankruptcy Act, case #0913204. This permits the company to continue to operate with court supervision while developing a plan of reorganization. Those with monetary claims against the company are advised to obtain a Proof of Claim form by writing to the :

US Bankruptcy Court
Eastern Division of PA
Robert Nix Building
900 Market Street
Suite 400
Philadelphia, PA 19107

for resubmission to that source.

The case number should be entered on the form.

For more information, contact the attorney for debtor, Laurie A. Krepto at 215-772-1500.

I hope this is valuable information to all of you wondering what can I do, but are still faced with all of the issues that plague many of us in so many different ways.

This is not included, but I believe this may be the form directly available online (?) :

http://www.uscourts.gov/rules/Revise...K_Form_B10.pdf

If someone would like to make a comment on the validity of that, please do.

[administrator]

You all know by now I am *NOT* a lawyer.

I'm just passing along some general information.

There may be positive and negative implications by the filing of such documents.

Basically, run it by someone else that can provide some legal guidance.

[B_robert]

My only footnote to that is that at present you are not under a deadline to file a claim yet. The court will issue a due date for all claims.

[crashtc]

Contact for the court - (Case Administrator)

Chris Wagner
215-408-2800 (I didn't get an extention)

[Flux]

Here is the THP Bankruptcy case #, so people don't have to dig for it.

09-13201-SR

Here is where I get confused, we have a "secured claim", because our money is in Escrow. However, they have a portion on this form for deposits, and it's in the "unsecured" section, and up to $2,225.00.

Is this form meant for people with money in Escrow?

[crashtc]

Originally Posted by Flux

Here is the THP Bankruptcy case #, so people don't have to dig for it.

09-13201-SR

Here is where I get confused, we have a "secured claim", because our money is in Escrow. However, they have a portion on this form for deposits, and it's in the "unsecured" section, and up to $2,225.00.

Is this form meant for people with money in Escrow?

My lawyer told me today that we'd be Unsecured because we didn't give anything like say a car to hold the property...We're letting him fill this out now though

**I should add that our $ is in escrow as well

[Flux]

But isn't giving a deposit considered something to hold the property in your interest?

"Secured claim" means any claim secured by mortgage, trust deed, pledge, deposit as security, escrow, or otherwise but does not include a special deposit claim, a claim against general assets, or a claim based on mere possession. In other words, if a claim is secured by some form of collateral, it is considered a secured claim.

For myself personally, I don't think I would want to be classified as "unsecured" because of the Priority rules.


I think I'm officially --->

[crashtc]

That's what I thought too.
He was going to check w/ his contact in the Bankruptcy court & get back to me...I'll let you know.

[B_robert]

Originally Posted by crashtc

That's what I thought too.
He was going to check w/ his contact in the Bankruptcy court & get back to me...I'll let you know.

Homebuyer deposits are considered "priority unsecured claims," which means on the list they fall somewhere in between secured claims and general unsecured claims.

In reality, it means rather than getting 10 pennies on the dollar, you might get 15........

[B_robert]

Originally Posted by Flux

But isn't giving a deposit considered something to hold the property in your interest?

"Secured claim" means any claim secured by mortgage, trust deed, pledge, deposit as security, escrow, or otherwise but does not include a special deposit claim, a claim against general assets, or a claim based on mere possession. In other words, if a claim is secured by some form of collateral, it is considered a secured claim.

For myself personally, I don't think I would want to be classified as "unsecured" because of the Priority rules.


I think I'm officially --->

The slight difference here is that a deposit, even an escrow, really doesn't give you "rights" to the property....only the right to purchase the property, a subtle difference but if you think about those who have a "secured" claim, they have given money to the debtor in exchange for a collateral to be paid in the event of default.

By comparison, in the event of default, you do not have any rights to the property, only to the money you paid in anticipation of gaining that property.....

Now, the problem here is this, if THP had done the right thing, your escrowed money shouldn't even BE part of the bankrutpcy estate becasue it was to be held by a third, non-affiliated party (the meaning of escrow)...but it wasn't and it was mixed-up with the general operations of the company. Now, if your money was supposed to be escrowed, and wasn't (and this applies to all of us), you may have more of a priority claim and SHOULD have the right to get it all back.

This is where it is muddy for me and its something that needs to be explored more.....