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Q: My claim against a company considering filing for Bankruptcy ( No Answer,   1 Comment )
Question  
Subject: My claim against a company considering filing for Bankruptcy
Category: Business and Money > Small Businesses
Asked by: sactohal-ga
List Price: $10.00
Posted: 14 Apr 2006 16:02 PDT
Expires: 14 May 2006 16:02 PDT
Question ID: 718993
I am a consultant under contract to a company that is close to filing
bankruptcy. My contract specifies my fee as $2,500 per month and I
have submitted my invoice in that amount on the first day of each
month. The current balance owed to me is $30,000. Would it help my
claim if the company transferred the $30,000 to a note instead of a
payable as it is now?    Hal Tenney
Answer  
There is no answer at this time.

Comments  
Subject: Re: My claim against a company considering filing for Bankruptcy
From: redfoxjumps-ga on 15 Apr 2006 02:02 PDT
 
While trying improve your position by making the amount owed you more
senior or more secured, you have enough at stake to get a lawyer
skilled in bankruptcy in the state the firm will file.  There are
provisions in some states that limit last minute manipulations, prior
to a bankrupt filing. Certain persons and professions may get special
treatment. Make copies of any papers that might get lost.

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