LSI 2010 NRD Santa Fe final conference binder 072110.pdf

Linda R. Larson of Marten Law PLLC
J. Scott Janoe of Baker Botts LLP
Speaker 21: 3
Speaker 22: 3
Assessing Claims (cont'd.)
Scheduling Environmental Claims
Effect on government's ability to assert late claims
Government will have a subordinated late claim unless it
can show:
(1) inadequate notice or
(2) excusable neglect
Procedure:
(1) motion to allow filing
(2) objection by debtor
(3) hearing and decision by court on whether to allow as a
timely filed claim or treat as a subordinated late claim
4
Claims Estimation
Required Estimation - The court shall estimate for the
purpose of allowance: "any contingent or
unliquidated claim, the fixing or liquidation of
which...would unduly delay the administration of the
case..." 11 U.S.C. 502(c)
The bankruptcy court is bound by the legal rules that
govern the ultimate value of the claim. Addison v.
Langston (In re Brints Cotton Mktg.), 737 F.2d 1338
(5th Cir. 1984).
The bankruptcy court can adopt the estimation
method best suited to the circumstances. Id.
Abuse of discretion standard on appeal.
5
Law Seminars International | Natural Resource Damages | 07/16/10 in Santa Fe, NM