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FLCORPLAWYER
FLCORPLAWYER, Attorney
Category: Business Law
Satisfied Customers: 4627
Experience:  23 Years business & securities law, NY and FL bars. SEC all states.
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Company used my profit/pension when they filed for chapter

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Company used my profit/pension when they filed for chapter 11. I was given no paperwork to show what they had done, I was given verbal notification by one of the owners. This owner has promised to pay me back. It has taken me 4 years to get him to agree to a payment plan once a month with no interest added, again verbal conversation with him. He has only made 3 payments in that last nine months. I now am in a postion where I might be leaving this company and asked for the balance owed me. He said he doesn't have it. Do I have any recourse at all?
Submitted: 5 years ago.
Category: Business Law
Expert:  FLCORPLAWYER replied 5 years ago.
What do you mean by "Company used my profit/pension when they filed for chapter 11"?
Customer: replied 5 years ago.

It was called Profit Sharing Plan and they liquidated all of them and used them I quess to try and help the company from filing Chapter 11. Again there must have been something in writing showing what they did with this. I'm at work now so it may take a few minutes to respond to your requests

Expert:  FLCORPLAWYER replied 5 years ago.
If your fund was included by the company in the Chapter 11, then there should have been notice to you and you would know what was determined by the court. Your case is very complicated because (1) all of the agreements were oral and (2) there are several things which happened which may have tolled (extended) the statute of limitations. If we are talking about a lot of money here, I would write it all out in chronological order and hand it over to a local collection attorney. He will want 25% to 40% of whatever he collects but it won't cost you anything up-front. It should be obvious to you now that the boss is not going to pay voluntarily.
FLCORPLAWYER, Attorney
Category: Business Law
Satisfied Customers: 4627
Experience: 23 Years business & securities law, NY and FL bars. SEC all states.
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