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Expert Analysis

Yet Another Reminder Of Section 503(b)(9) Ambiguity

Law360, New York (August 7, 2014, 10:21 AM EDT) -- A bankruptcy court in Pennsylvania recently held that trade creditors who supplied goods to a debtor prior to its bankruptcy filing were not entitled to administrative priority status under Bankruptcy Code Section 503(b)(9) because the goods were "received by the debtor" at the time they were placed on the vessel at the port overseas more than 20 days before the debtor's bankruptcy filing, although the debtor took possession of the goods within the 20-day period. In re World Imports Ltd. — B.R. —-, (Bankr. E.D. Pa., June 18, 2014)....

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