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  1. #1

    Default Proof of Claim for Bankruptcy

    My question involves bankruptcy in the state of: Ohio - Northern District

    The company I previously worked for went bankrupt (Chap 7), and I received a notice to file a proof of claim for dollars that I'm owed. I'm owed both wages and business expense reimbursement (I purchased goods for the company on my own credit card).

    I know my wages are considered priority, but are my business expense reimbursements considered priority as well? I don't see this noted on the claim form and I searched and can't find any information about it.

    Thanks.

  2. #2
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    Default Re: Proof of Claim for Bankruptcy

    Are we talking about identifiable, tangible items? If so, you may be able to claim a purchase money security interest (PMSI) in the items you paid for. (I've not encountered this exact circumstance before.) A PMSI (pronounced "Pimsy") would give you priority over other creditors for the items. Things get more complicated if we're talking about consumable items, like printer paper, toner, etc.

  3. #3

    Default Re: Proof of Claim for Bankruptcy

    I was told to purchase toner cartridges from an office superstore on my credit card. We used those cartridges to add them to our inventory and resell them and then I would expense the purchase. Although they are consumable items, I would consider them tangible because we added them to our own inventory and then resold them.

    This was done due to issues with our regular supplier shipping goods.

    If this is considered priority, what should I mark it under:

    a. Wages, salaries or commissions
    b. up to $2,425 of deposits toward purchase, lease, or rental of property or services for personal, family, or household use
    c. Other - specific applicable paragraph of 11 U.S.C 507

    Thanks.

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