Customs Brokers Asking for Change to Bankruptcy Law in COVID Package

The National Customs Brokers & Forwarders Association of America is asking members to send letters to their congressional representatives to ask for them to include a change to bankruptcy law in a stimulus package responding to the economic crisis caused by the COVID-19 pandemic. They are asking Congress to include H.R. 2261, the Customs Business Fairness Act, so that when importers go bankrupt, the customs duties they reimbursed brokers for aren't part of 90-day claw-back provisions under bankruptcy law. “We believe that many importers may find the need to file bankruptcy due to the issues surrounding the COVID-19 crisis and the disruption to businesses it has caused,” the trade group said.