WVC 33 - 10 - 26 D
§33-10-26d. Claims of holders of void or voidable rights.
(a) No claim of a creditor who has received or acquired a
preference, lien, conveyance, transfer, assignment or encumbrance
voidable under this article shall be allowed unless the creditor
surrenders the preference, lien, conveyance, transfer, assignment
or encumbrance. If the avoidance is effected by a proceeding in
which a final judgment has been entered, the claim will not be
allowed unless the money is paid or the property is delivered to
the liquidator within thirty days from the date of entry of the
final judgment, except that the court having jurisdiction over the
liquidation may allow further time if there is an appeal or other
continuation of the proceeding.
(b) A claim allowable under subsection (a) of this section by
reason of the avoidance, whether voluntary or involuntary, of a
preference, lien, conveyance, transfer, assignment or encumbrance,
may be filed as a late filing if filed within thirty days from the
date of the avoidance, or within the further time allowed by the
court under subsection (a) of this section. A claimant having a
late filed claim under this section may be permitted by the
liquidator to share in distribution as though the claim were not
late, to the extent that the payment will not interfere with the
orderly administration of the liquidation.
Note: WV Code updated with legislation passed through the 2012 1st Special Session