Client filing for bankruptcy?

Client filing for bankruptcy?
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1 Answer

Answer :

At some point you will need to file a claim against the company (to the bankruptcy trustee, once they are appointed). You’ll wait and wait and wait. There’s a hierarchy of who gets paid first (lawyers and banks) and who gets paid later (probably you). If the company is liquidating, you might end up with nothing (or pennies on the dollar). If they are reorganizing but staying in business, the will want to shed as many debts as they can. You may get something and you may not. Depends on the assets and the debts. Your first step is to see where they are filing bankruptcy and when it is possible for you to file a claim. read this Good luck.
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Related questions

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