Section 503(b)(9) • “Received” • Constructive Possession • Physical Possession
In Re World Imports, Ltd., PICS Case No.17-1199 (3 Cir. July 10, 2017) Hardiman, J. (15 pages).
Bankruptcy court misapplied the concept of constructive receipt to find buyer “received” goods shipped FOB at the port of origin because a buyer did not constructively receive goods when they were delivered to a common carrier, even if the risk of loss passed at that time, and receipt occurred when the goods were in the buyer’s physical possession. Reversed.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]