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.
