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Jim Reilly
Jim Reilly, Attorney
Category: Business Law
Satisfied Customers: 1801
Experience:  CA Atty since 1976, 10 years as General Counsel CA corps.
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Ok, I ordered a piece of equipment on March 17 of this year

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Ok, I ordered a piece of equipment on March 17 of this year and this company had a good rep with the forum and other sources that I looked at. I found out on a forum that a competitor bought them out and was securing the company’s assets. Now the company that was hired to do the assets set up an email to collect information on the customers that got screwed over. They also have a meeting with the company on Monday the 4th, to figure away to handle this. I need some advice on what to do if they try to screw me over and also let them know I have a lawyer on standby just in case I need to fight them. One more thing because this was a SBA Loan program is there away to get refunded until this mess is cleared up? I’m losing client that was waiting on me to get this equipment. Any help would be grateful.
Submitted: 5 years ago.
Category: Business Law
Expert:  Jim Reilly replied 5 years ago.
HelloCustomerand welcome to JustAnswer. I'm sorry to hear about this problem you are having.

Unfortunately, there really isn't anything you can do immediately that will help with your customers. Since it appears that the new company is trying to get things figured out, waiting until after the meeting on Monday is not only appropriate but necessary.

If the meeting on Monday does not result in a solution to your satisfaction, then you can give serious thought to your legal alternatives. Of course, you can sue them -- but that process is time-consuming and also won't help with your immediate problem.

Also, the fact that you obtained an SBA loan to make this purchase won't be of much help if the company has neither the equipment nor the money to make a refund. The SBA either makes loans or more commonly guarantees loans made by other lenders. It is not part of the SBA's function to become involved in disputes between the borrower and any supplier with whom the borrower is doing business.

If you are in contact with this company on Monday, you should let them know that you are aware of and prepared to enforce your contractual rights, with the assistance of counsel if necessary. If you do not already have or know any attorney, you should consider contacting a local business or contract law attorney next week. You can do so through the Dallas Bar Association Lawyer Referral Service, contact information for which is available on their website at:

https://www.dallasbar.org/referral/


Thanks for asking your question here on JustAnswer. If you have any other questions, please let me know.
Jim Reilly, Attorney
Category: Business Law
Satisfied Customers: 1801
Experience: CA Atty since 1976, 10 years as General Counsel CA corps.
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