Page 46 - Bankruptcy Volume 1

G, but should be incorporated into one comprehensive listing. It is important to note that Schedule G is
not a liability schedule and, therefore, to the extent an amount is owed under a contract listed on Sched-
ule G, that amount should be listed on Schedules D, E/F, as applicable.

Schedule H

Schedule H provides an opportunity to list the co-debtors of the debtor as to specific liabilities. Co-
debtors can be other filing debtors, nonfiling affiliates or unaffiliated third parties. Co-debtors share an
obligation to the creditor. For example, a primary obligor on a debt agreement will have a co-debtor re-
lationship with co-obligors or guarantors on that agreement. Executory contracts with multiple parties
can also create co-debtor relationships appropriate for Schedule H if a debtor entity and a co-debtor
share an obligation to a third party or parties. The co-debtor obligation(s) should also be listed as C, U,
D liabilities at an "undetermined" amount on Schedule F of the respective debtor.

SOFA and Schedule Amendments

The SOFAs and schedules can be amended after they are filed if good cause can be shown. Most courts
have demonstrated reasonable tolerance if the debtor’s purpose is to enlighten creditors and other parties
in interest. The accountant must work carefully with legal counsel and the debtor when preparing the
schedules, which, as legal papers, constitute a statement under oath of the debtor concerning all of the
facts set forth in the schedules. These may later be taken as admissions by the debtor on one point or an-
other.

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