DailyDAC
Tuesday, April 12, 2022
Public Notice of Sales
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Public Notice of Article 9 Sale

10,000 phones and related assets. Green Hills Software LLC will sell collateral pledged to it by Hoyos Integrity Corporation at an auction on April 22, 2022 at 10:00 am PT; potential bidders must qualify to bid no later than April 20, 2022. The collateral includes 10,000 phones and related assets. Counsel for Green Hills Software LLC is Michael S. Neumeister of GIBSON, DUNN & CRUTCHER LLP. More information on DailyDAC.

Have a sale that needs Public Notice? Learn more here.

Don’t Delay. Failure to File a Proof of Claim is Malpractice Per Se, So You Say

Federal Bankruptcy Rule 9006(b) is the path one must walk to file a late proof of claim in a bankruptcy case. The guidepost for such walking is set forth in Pioneer Inv. Services Co. v. Brunswick Associates Ltd. Partnership, 507 U.S. 380, 388 (1993).

Pioneer examined four factors to consider in determining whether neglecting to file a timely proof of claim is excusable: (a) the danger of prejudice to the debtor; (b) the length of the delay and its potential impact on judicial proceedings; (c) the reason for the delay, including whether it was within the reasonable control of the movant; and (d) whether the movant acted in good faith.

Pioneer also explicitly stated that “Congress plainly contemplated that the courts would be permitted, where appropriate, to accept late filings caused by inadvertence, mistake, or carelessness, as well as by intervening circumstances beyond the party's control.”

Nonetheless, the Pioneer factors have proven to be a hard standard to satisfy. Most courts, when faced with the issue, determine that the standard required to find excusable neglect is not met.

But none of this means a proof of claim should always be filed. 

What??? It’s true. How can that be?

Well, do you remember the “rule” that you should never start a sentence with the words “and” or “but?” It was likely driven into your head in elementary school. And it was a good rule then. But only for one reason: you were far more likely to use those words incorrectly than correctly when you were in third grade. And you are not in third grade anymore. At least we assume this to be so. If you are, you’re quite precocious.

The general rule that filing a proof of claim early is subject to exceptions, one of which is presented by circumstances in which a creditor may be better off not filing a proof of claim at all. Read Laura Davis Jones’ Important Issues and Developments When Filing a Proof of Claim to learn more.

Trade Tip #9: Confused About Adversary Proceedings?

Having trouble finding the docket entries related to a lawsuit you were told was filed against your company by a debtor in bankruptcy? Or are you generally confounded by the relationship between an adversary proceeding, a contested matter, and other matters that arise in the context of a bankruptcy case? Read Trade Tip #9: What is an “Adversary Proceeding”? by Hajar Jouglaf to clear up the confusion.

More DailyDAC Tools...

DailyDAC offers a variety of free and paid tools for bankruptcy professionals.

Chapter 11 Alerts

Free email notifications of recent chapter 11 filings from across the U.S.

Bankruptcy Webinars

High quality educational webinars provided by Financial Poise Webinars.

Assignee Directory

A comprehensive directory of experienced assignees who have served as an ABC.

Auctioneer Directory

A list of auctioneers in the "distressed and surplus" asset space.

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