Question: I have a lawsuit against a center that filed for BK. I believe there is insurance from the time in question. However, I know BK stays the litigation and then disposes claims. Do I have any recourse? Can I still reach the insurance? Thanks you.

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In this hypothetical, your attorney should hire local bk counsel to file a proof of claim on your behalf. Then make sure they have insurance to cover your claim. If they do, you should offer the debtors’ counsel to drop your claim against the bk estate if they agree to lift the stay so you can proceed with your litigation on the strict grounds you only pursue collection from insurance. You can get whole dollars from insurance rather than a pro rata/minimal to no distribution on your likely unsecured claim. If they don’t agree, you’d file a motion to lift the stay to pursue insurance.

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Not a bankruptcy attorney, but I have had opposing parties file for bankruptcy in the middle of litigation. File a proof of claim in the BK, attend the meeting of creditors, determine wherever they've adequately disclosed your claim against the debtor on their schedules. Your recourse depends on the basis of your claims (secured, unsecured, fraud, non-fraud). Sometimes you can file a motion for relief from automatic stay.

I've actually researched this issue!! I could even get you the cite when I get near a computer. Short answer is yes. Sue the insurance directly--if the insurer is liable, then you need not pursue the main defendant.

Can you send me the cite when you get a chance? This is VERY helpful! Thank you.

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