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GENERAL50192
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Last modified
8/24/2016 8:32:53 PM
Creation date
11/23/2007 5:45:41 PM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
M1977376
IBM Index Class Name
General Documents
Doc Date
5/9/1991
Doc Name
MEMORANDUM IN SUPPORT OF DEBTORS MOTION FOR AN ORDER DETERMINING CERTAIN RECLAMATION CLAIMS AND GRAN
Media Type
D
Archive
No
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that has sold goods to the debtor, in the ordinary <br />~~ourse of such seller's business, to reclaim such goods <br />if the debtor has received such goods while insolven'=, <br />but -- <br />(1) such a seller may not reclaim any such goods <br />unless such seller demands in writing reclamation <br />of such goods before ten days after receipt of <br />such goods by the debtor; and <br />(2) the court may deny reclamation to a seller with <br />such a right of reclamation that has made such a <br />demand only if the court -- <br />(A) grants the claim of such a seller priority as <br />a claim of a kind specified in section 503 (b) <br />of this title; or <br />(B) secures such claim by lien. <br />Section 546 permits reclamation to the extent there exists a <br />statutory or common law right of reclamation. In re Coast <br />Trading Co._, 744 F.2d 686 (9th Cir. 1984) (whether a seller. hats a <br />statutory or common-law right to reclaim goods from bankrupt <br />buyer is a matter of state law). In Colorado,; reclamation with <br />respect to goods sold is governed by Colorado Uniform Commercial <br />Code Section 4-2-702 which states in pertinent part: <br />(2) Where the seller discovers that the buyer has received <br />goods on credit while insolvent, he may reclaim the <br />goods upon demand made within ten days after the <br />receipt, but if misrepresentation of solvency has been <br />made to the particular seller in writing within three <br />months before delivery, the ten day limitation does not <br />apply. Except as provided in this subsection (2), tlye <br />seller may not base a right to reclaim goods on the <br />a At least one case suggests that the proper choice of <br />state law s;ith respect to reclamation in bankruptcy is the state <br />in which the reclamation demand is made. In re Eli Witt Co., 12 <br />Bankr. 757 (Sankt. M.D. Fla. 1981) (where demand for reclamation <br />was made in Florida, Florida law is controlling). In this case, <br />all demand> were made by the Reclamation Claimants on CF6I Steel <br />at its place of business in Pueblo, Colorado. <br />e <br />
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