For those interested, the PACA Claims Procedure Order entered in the Adams Produce Bankruptcy established August 3, 2012 (Today!) as the deadline to file all PACA proofs of claim . Any party that fails to file their PACA proof of claim by will be forever barred from asserting a PACA claim.
All PACA Trust Creditors must file a PACA proof of claim no later than today, Friday, August 3, 2012.
Once all of the PACA claims are asserted, the parties will begin the process of identifying the valid claims and eliminating all others. Afterwards, the real amount of the PACA trust debt will be known and distributions will follow shortly thereafter. As with most PACA cases, the validation process is critical because all of the Debtor’s unsecured creditors are waiting to see if there will be enough assets left to pay administrative claims and other unsecured obligations. The answer to this question will come in the next few months.