When does reclamation take place in a bankruptcy proceeding?

Minneapolis Bankruptcy attorney Steven Silton explains that reclamation takes place immediately following a bankruptcy filing.

Contact Steven Silton

Email: [email protected]

Phone: (612) 260-9003

Transcript:

Reclamation will take place immediately following a bankruptcy filing. Under certain circumstances where creditors have essentially shipped product or shipped goods and a debtor files bankruptcy, that creditor can actually go and reclaim the product pursuant to a state law provision that is recognized in bankruptcy. It’s an incredibly valuable remedy when somebody has been stuck with shipping goods or products right prior to a bankruptcy filing.