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Expert Analysis

Distinguishing 'Excusable Neglect' In Filing Late Claims

Law360 (June 14, 2010, 2:41 PM EDT) -- In a recent decision, the United States Bankruptcy Court for the Southern District of New York distinguished excusable neglect in filing a claim before the expiration of a clear bar date. In a written opinion issued on May 20, 2010, in the case of In re Lehman Brothers Holdings Inc., et al., Case No. 08-13555 (JMP), Judge James M. Peck denied seven motions for leave to file late claims, finding none satisfied the Second Circuit's strict standard to find excusable neglect....

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