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- Ask yourself the following questions:
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- Are goods in transit?
- When was the last time the goods or services were supplied?
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- Seek court permission to terminate or modify a contract post-petition or to exercise a contractual or state law right of set off (I.e. to apply a security deposit against a delinquent lease payment).
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- Determine the value of goods the debtor received within 20 days of case commencement you sold to the debtor in the ordinary course of business as this claim may be a priority claim in the case.
- Investigate if you could be a “critical vendor” entitled to be paid for unpaid prepetition services or goods early, because you are critical to the reorganization effort.
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