Second Circuit: 502(d) Does Not Apply to Administrative Claims

In <i>ASM Capital, LP v. Ames Department Stores, Inc.</i> the Second Circuit Court of Appeals (the "Second Circuit") held that ' 502(d) of the Bankruptcy Code, which disallows claims until the claimant has returned all voidable preferential payments and other voidable transfers from the debtor's estate, does not apply to disallow administrative claims under 503(b).

11 minute read February 23, 2010 at 10:53 AM
By
Marion M. Quirk
Second Circuit: 502(d) Does Not Apply to Administrative Claims

In ASM Capital, LP v. Ames Department Stores, Inc. (Ames Department Stores, Inc.

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