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Beware of claims bar dates for Section 503(b)(9) administrative priority claims in favor of goods suppliers.(credit column)
Goods sellers are the under Bankruptcy Code Section 503(b)(9). This section was added by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). Trade creditors can now assert an administrative priority claim for the sums due for goods they had sold and delivered to the debtor that the debtor had received within 20 days of bankruptcy ("20-Day Goods").
Trade creditors that successfully assert a Section 503(b)(9) administrative priority claim for 20-Day Goods have an increased likelihood of full and quicker recovery of this claim. However, this new priority claim has raised many questions, including the deadline for its assertion. The United ...
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Source: HighBeam Research, Beware of claims bar dates for Section 503(b)(9) administrative...