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Diamond Motions to Set September 8 as "Bar Date" for Non-Governmental Proof of Claims

Diamond Glass has motioned the bankruptcy court in which its case is under review to establish a bar date (deadline) for proof of claims to be filed by September 8, 2008, at 4 p.m. Eastern Time by all non-governmental entities. September 29 (at 4 p.m.) is the proposed bar date for governmental units to file proof of claims.

In the motion, filed yesterday in the U.S. Bankruptcy Court for the District of Delaware, attorneys for Diamond write, "In order for the Debtors to fully administer these estates and to make distributions under any Chapter 11 plan confirmed in these cases, the Debtors must obtain complete and accurate information regarding the nature, validity and amount of all claims that will be asserted in these Chapter 11 cases."

When and if the motion is approved, Diamond will be notifying "all known entities holding potential prepetition claims," according to court documents. Those not required to file proofs of claim, according to the motion, are:

  • Those that have already properly filed a proof of claim against the company with either Garden City Group Inc., the company's claims agent, or with the clerk of the court;
  • Those whose claims are listed in the financial schedules filed in the case and whoe claims are not described as disputed, contingent or unliquidated;
  • Professionals retained by Diamond or the Official Committee of Unsecured Creditors;
  • "Any entity that asserts an administrative expense claim against the Debtors;"
  • Current officers and directors of Diamond "who assert claims for indemnification and/or contribution arising as a result of such officers' or directors' prepetition or postpetition services to the Debtors;"
  • "Any Debtor asserting a claim against another Debtor;"
  • Any direct or indirect non-debtor subsidiary of Diamond asserting a claim against it;
  • Any entity "whose claim against [Diamond] has been allowed by an order of the Court entered on or before the applicable bar date; or
  • Any person or entity whose claim has already been paid by Diamond.

Diamond maintains that September 8 is a reasonable bar date, as "potential claimants shall receive no fewer than 45 days' notice of the General Bar Date, which exceeds the minimum notice period provided by Bankruptcy Rule 2002(a)(7)."

Via the motion, Diamond also requests permission from the court to publish a notice of the bar dates in USA Today within 10 business days of the acceptance of the motion.

CLICK HERE for full text of motion.

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