In re PT-1 Communs. Inc.
Aug
28
2009
Ruling
Creditor that did not act in a timely fashion in response to debtor's objection was not entitled to relief from reduction of claim.
Procedural posture
Debtor corporations filed petitions for relief under chapter 11 of the Bankruptcy Code, and a creditor's agent filed a proof of claim on the creditor's behalf. The bankruptcy court reduced the creditor's claim from $ 5,745,552 to $ 2,526,670, and two years later, the creditor asked for reconsideration. The bankruptcy court denied the creditor's motion for reconsideration, but the district court set aside that judgment and remanded the case.
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Court
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