If a PACA claim is outside of the normal bankruptcy process, must a seller deal with all of the bankruptcy rules and regulations?
Even though PACA trust assets are not property of the bankruptcy estate, courts may order PACA assets to be administered by the bankruptcy trustee and bankruptcy court. The PACA trust beneficiary must be on guard to protect their interests and prevent their PACA trust assets from being swallowed up in administrative fees and costs for the bankruptcy process. Quick action is essentially in every bankruptcy case to avoid the loss of your rights.
Related Questions
- I want a commercial construction contractor who will handle all the governmental rules and regulations for me. How will Leitner Construction deal with those headaches?
- If a PACA claim is outside of the normal bankruptcy process, must a seller deal with all of the bankruptcy rules and regulations?
- What if a property is purchased through foreclosure or outside of the normal escrow process?
