For over a decade now, the Bankruptcy Code has granted a priority of payment with regard to creditor claims for goods received by the debtor in the 20 days before bankruptcy.
Third Circuit Defines 'Received' for Section 503 (B)(9) Claims
For over a decade now, the Bankruptcy Code has granted a priority of payment with regard to creditor claims for goods received by the debtor in the 20 days before bankruptcy. A creditor merely needs to demonstrate that the debtor "received" the goods within the prescribed pre-bankruptcy interval, and its claim attains priority as an administrative expense. Ah, but therein lies the rub.
By
Anthony Michael Sabino
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