Seller Reclamation Rights in Bankruptcy
Presenters:
Jim Hopple, Schottenstein Zox and Dunn, Partner in the Creditors’ Rights and Business Restructuring Practice Group
Tyson Crist, Schottenstein Zox and Dunn, Partner in the Creditors’ Rights and Business Restructuring Practice Group
Continuing adverse economic conditions in manufacturing, particularly in the automotive industry, have forced numerous manufacturers into bankruptcy — and that trend is likely to continue or worsen in the foreseeable future. Sellers need to be aware of their rights and important considerations to reclaim their goods sold to a company that files for bankruptcy. Jim and Tyson discuss the rights of a vendor that has sold goods prior to a bankruptcy filing to reclaim possession of the goods or, in the alternative, to seek an administrative claim for the value of the goods.
