The New Value Defense
Section 503(b)(9) of the Bankruptcy Code allows an administrative expense “for the value of any goods received by the debtor within 20 days before the date of the commencement of a case under this title in which the goods...more
Section 503(b)(9) of the Bankruptcy Code gives a massive boost to creditors that sold goods to a financially distressed customer shortly before the customer’s bankruptcy filing. While claims for goods sold before a bankruptcy...more
Section 503(b)(9) Overview - Ever since its addition to the Bankruptcy Code in 2005, there has been an ongoing debate as to whether electricity is a “good” or a “service” for purposes of section 503(b)(9). If electricity...more
An Eleventh Circuit Court of Appeals’ decision permits a creditor both to be paid in full under Bankruptcy Code section 503(b)(9) for goods delivered within 20 days before commencement of a bankruptcy case, and to use the...more
Sands Anderson’s bankruptcy lawyers attended the “First Day” hearings in the chapter 11 bankruptcy cases of Pier 1 Imports Inc., and its affiliates. During the hearings, held before the Honorable Kevin R. Huennekens in the...more