Buyer Beware: Third Circuit Confirms Claims are Subject to Disallowance Despite Sale to Third Party
By EsqSocial Corporation 06/12/13
The Third Circuit in In re KB Toys, Inc. recently affirmed a decision of the Delaware District Court, holding that trade claims are subject to disallowance under section 502(d) of the Bankruptcy Code despite their subsequent sale to a third party....
By: Morrison & Foerster LLP