New York Bankruptcy Judge Martin Glenn entered an order on Friday which set deadlines for creditors to file proofs of claim against Borders Group, Inc. and its affiliates for claims arising before the companies’ February 16, 2011 bankruptcy filings. Last Wednesday, Borders reportedly offered certain large creditors, including publishers, a preview of the plan that it believes will lead it out of bankruptcy and back to profitability by the end of this year. According to the New York Times, at least some publishers were not impressed with Borders’ plans, describing them as “unrealistic.” The New York Times article also reported that the same publishers left the meeting “more convinced than ever” that Borders would not be successful in reorganizing as a stand-alone company.
Judge Glenn’s Friday order requires creditors of the bankrupt entities to file proofs of claim for claims arising before the February bankruptcy filing no later than June 1, 2011 at 5:00 p.m. (Eastern). Governmental units must file proofs of claim by August 15, 2011. Certain categories of claims are excluded from the deadlines (or “bar dates”) and the order sets forth specific filing procedures that creditors must follow. Please review the order for more details on the process to file a claim. You can find a copy of the order by following this link:
- Order Signed on 4/7/2011 Establishing the Deadline for Filing Proofs of Claim and Approving the Form and Manner of Notice Thereof – Deadline For Filing Proofs of Claim (General Bar Date) is June 1, 2011 at 5:00 P.M.; Proofs of Claims by Governmental Units defined in Section 101(27) of the Bankruptcy Code must be received on or before August 15, 2011 at 5:00 P.M.
The bankrupt entities, along with the last four digits of each entity’s federal tax identification number, are:
- Borders Group, Inc. (4588)
- Borders International Services, Inc. (5075)
- Borders, Inc. (4285)
- Borders Direct, LLC (0084)
- Borders Properties, Inc. (7978)
- Borders Online, Inc. (8425)
- Borders Online, LLC (8996)
- BGP (UK), Limited