Section 1007. Notice to creditors by corporations intending to dissolve; filing or barring claims

(a) At any time after the plan  of  dissolution  and  distribution  of
  assets  shall  have  been  (1) authorized as provided in section 1002 of
  this article (Authorization of plan), (2) approved by  any  governmental
  body  or officer whose approval is required pursuant to paragraph (c) of
  section 1002 of this article, and (3)  approved  by  a  justice  of  the
  supreme court, if such approval is required pursuant to paragraph (d) of
  section  1002  of  this  article, or filed with the attorney general, if
  such filing is required pursuant to paragraph (d)  of  section  1002  of
  this  article,  and  prior to filing the certificate of dissolution, the
  corporation may give a notice requiring  all  creditors  and  claimants,
  including  any  with unliquidated or contingent claims and any with whom
  the corporation has unfulfilled contracts, to present  their  claims  in
  writing and in detail at a specified place and by a specified day, which
  shall  not  be  less than six months after the first publication of such
  notice. Such notice shall be published at least  once  a  week  for  two
  successive  weeks in a newspaper of general circulation in the county in
  which the  office  of  the  corporation  was  located  at  the  date  of
  authorization  of  its plan of dissolution and distribution of assets as
  provided in section 1002 of this article (Authorization of plan). On  or
  before the date of the first publication of such notice, the corporation
  shall  mail  a copy thereof, postage prepaid, to each person believed to
  be a creditor of or claimant against the corporation whose current  name
  and address are known to or can with due diligence be ascertained by the
  corporation.   The   giving  of  such  notice  shall  not  constitute  a
  recognition that any person is a proper creditor or claimant, and  shall
  not  revive  or  make valid, or operate as a recognition of the validity
  of, or a waiver of any defense or counterclaim in respect of  any  claim
  against  the  corporation,  its  assets, directors, officers or members,
  which has been barred by any statute of limitations or become invalid by
  any cause, or in  respect  of  which  the  corporation,  its  directors,
  officers or members, has any defense or counterclaim.
    (b)  Any claims which shall have been filed as provided in such notice
  and which shall be disputed by the  corporation  may  be  submitted  for
  determination  to  the supreme court under section 1008 (Jurisdiction of
  supreme court to supervise dissolution and liquidation) or  pursuant  to
  article  11  (Judicial  dissolution).  A  claim  filed by the trustee or
  paying agent for the holders of bonds or coupons  shall  have  the  same
  effect  as  if  filed  by  the  holder of any such bonds or coupons. Any
  person whose claim is, at the date of  the  first  publication  of  such
  notice,  barred  by  any  statute  of  limitations  is not a creditor or
  claimant entitled to any notice under this section or such section 1008.
  The claim of any such person and all other claims which are  not  timely
  filed  as provided in such notice except claims which are the subject of
  litigation on the date of the first publication of such notice  and  all
  claims  which  are  so  filed but are disallowed by the court under such
  section 1008, shall be forever barred as against  the  corporation,  its
  assets,  directors, officers and members, except to such extent, if any,
  as the court  may  allow  them  against  any  remaining  assets  of  the
  corporation  in the case of a creditor who shows satisfactory reason for
  failure to file a claim as so provided. If the court requires a  further
  notice  under  such  section  1008,  any  reference  to a notice in this
  section shall, to the extent that the court so orders, mean such further
  notice, except that a claim which has been filed in  accordance  with  a
  notice under this section need not be refiled under such further notice.
    * (c)  Notwithstanding  this section and section 1008 (Jurisdiction of
  supreme court to supervise dissolution and liquidation), tax claims  and

  other  claims  of  this  state  and  of  the  United States shall not be
  required to be filed under those sections, and such claims shall not  be
  barred  because  not  so  filed,  and  distribution of the assets of the
  corporation, or any part thereof, may be deferred until determination of
  any such claims.
    * NB Effective until October 1, 2009
    * (c)  Notwithstanding  this section and section 1008 (Jurisdiction of
  supreme court to supervise dissolution and liquidation), tax claims  and
  other  claims  of this state, of the United States and of the department
  of finance of the city of New York shall not be  required  to  be  filed
  under those sections, and such claims shall not be barred because not so
  filed,  and  distribution  of the assets of the corporation, or any part
  thereof, may be deferred until determination of any such claims.
    * NB Effective October 1, 2009
    (d) Laborer's wages shall be preferred claims and entitled to  payment
  before  any  other  creditors  out  of  the assets of the corporation in
  excess of valid prior liens or encumbrances.