The Customs Business Fairness Act(H.R. 2261)

IMPORTER BANKRUPTCY

Update

Most immediate threat for customs brokers: 90-day claw-back period

• The Bankruptcy Trustee sends notice to every creditor who received any

payment from the Importer in the 90 days prior to filing bankruptcy, asking for

the money to be paid back to the Bankruptcy estate.

• Purpose is to prevent preferential treatment of a creditor by the Importer.

• For customs broker, who may already have sent the duty payments to Treasury,

this can be problematical- you may have to pay the duty back, but you will not get it back from Customs

Have you written a letter to your Congressmen/women in regards to the Customs Business Fairness Act HR 2261 yet?

If not you should. There are currently 19 Congressional members that have agreed to co-sponsor, 3 of those are from right here in GA. We would love to have all of the GA Congressmen/women agree to co-sponsor the Bankruptcy bill. We just need more members to contact their CM district. We have included a ppt and a Bankruptcy one pager. Please feel free to send these to your CM.

If you would like to write a letter and need help please feel free to use the template provided, just copy and paste to your letterhead or email.

Please see the link provided if you do not know who your CM is.

https://www.house.gov/representatives/find-your-representative

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