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Lawrence David Simons

Lawrence Simons’s Answers

1 total

  • In Chapter 11 what is the lookback period for paid bill just prior to the filing?

    Our business has taken a turn for the worse and we have to file for Chapter 11. How many days is the lookback peroid from the date we file for bankruptcy? How far can we "look back" and retrieve the money that we used to pay bills?

    Lawrence’s Answer

    If the creditors are typical vendors and not related to your company (or you), the lookback period to recover preferential payments is ninety days from the date that the bankruptcy petition was filed.

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