Section 546 (c) of the Bankruptcy Code preserves a seller's reclamation rights against a debtor while imposing some additional requirements and burdens on creditors who seek to exercise that right after bankruptcy ensues.
Many states allow creditors to reclaim goods delivered up to three months before a reclamation demand is made if the creditor shipped goods to the debtor based on a written misrepresentation of solvency (most commonly an incorrect financial statement).
State law and your company's customary shipment terms will determine whether a given shipment falls within the 10 day reclamation period.
Bureau of Reclamation Commissioner Estevan Lpez announced today the selection of Max Spiker as Senior Advisor for Hydropower and Electric Reliability Officer.
Since 2013 Spiker has been the power resources manager where he worked with Reclamation offices in managing Reclamation's hydropower operation and maintenance program, reliability compliance program and renewable energy program.