On December 1, 2015, the Official Forms for use in bankruptcy courts will be updated. The changes were made as part of a forms modernization effort. Almost all of the Official Forms are being updated, including the bankruptcy petition, schedules, and statement of financial affairs, as well as the proof of claim form (formerly Form B 10) used to assert a creditor’s claim in a bankruptcy case.

The Federal Priority Act (FPA) is a little-known statute that dates back centuries, and has increasingly been used by the federal government to recover significant sums from all types of insolvent businesses and individuals.

No matter your industry or line of business, insolvency is not a pleasant process. Debts stack up, paperwork starts flying back and forth, and creditors circle their wagons. But it may surprise even a seasoned corporate attorney when one debtor in particular comes calling: The federal government.

The law that makes it possible — and pushes Uncle Sam to the front of the creditor line — is the Federal Priority Act. The statute dates back centuries, but is little-known among today’s practitioners. And that’s not a good thing.