Distinguishing 'Excusable Neglect' In Filing Late Claims

Law360, New York (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.

Bankruptcy Rule 3003(c) requires the...
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