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More leverage for suppliers, but no quick payday.(selected topic)
As most savvy collection managers know, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("BAPCPA") granted suppliers a priority in payment for goods received by the debtor within 20 days before bankruptcy. The new statute undoubtedly increased the chances that suppliers will achieve a significant recovery in bankruptcy. However, the courts have made it clear that Congress did not guarantee suppliers instant gratification on their newly created pre-bankruptcy administrative priority claims.
To a lesser extent, BAPCPA also benefited suppliers by expanding the time period in which they may exercise their right to reclamation of goods under the ...
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