Law360, New York (October 5, 2016, 4:22 PM EDT) -- Since the amendment of Bankruptcy Code section 546(c) in 2005, many courts have held that a creditor's reclamation rights embodied under the Uniform Commercial Code ("UCC") have little economic viability in bankruptcy because there is almost always a senior secured lender with a blanket lien on substantially all of the debtors' assets, including inventory. As a result, many creditors do not assert reclamation claims, thinking they are economically worthless. A recent decision by the bankruptcy court in Delaware requires a rethinking on the viability of a creditor's reclamation claim in certain circumstances. Thus, the reclamation claim may not be lost, and...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!