In re Peninsular Oil Corp.

Pre 2005-Act: 
Pre 2005-Act
Ruling: 
Creditor's preoccupation with business affairs was not excusable neglect that would allow filing of proof of claim two years after bar date.
Procedural posture: 
A claimant filed a motion pursuant to Fed. R. Bankr. P. 9006(b)(1) to allow a late-filed proof of claim in a chapter 11 debtor's case. The claimant also filed a motion for a stay pending reconsideration, and a motion for reconsideration, of a court order, which approved the sale of certain of the debtor's assets, the proposed distribution of the proceeds to holders of allowed claims, and the discharge and release of the debtor's managing agent.
Issue: 
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Commercial case opionion summary, case decided on October 27,2008, LexisNexis #0209-140