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Ask Barrister Your Own Question
Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 34846
Experience:  16 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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Ifa corporation like a small changes hands before i make my

Customer Question

ifa corporation like a small changes hands before i make my claim[ $12000] do i have any recourse?
Submitted: 1 year ago.
Category: Legal
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.

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Can you give me a few more details about your situation?

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What is your claim about?

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Is the one company being bought out by another one?

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Or is the one company going out of business/bankrupt and its assets being acquired by another company?

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Have you filed suit against the corp that owes you money?

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thanks

Barrister

Customer: replied 1 year ago.
unpaid bills for bakery merchadise delivered i am going on rumors and not being able to get in touch with the owner who i have been doing bisiness with over 20 years.. i havee not filed suit becuse i trusted the owner i have known these many years. It is very unusual for him not to speak to me.
Expert:  Barrister replied 1 year ago.

Ok, if the company is still legally operating, then it would be a good idea to go ahead and get a suit filed so that would serve to block any sale of the business to a new company until that debt was paid. If they are thinking about going out of business and shutting down, then they have to get clearance from the Sec of State that they have paid all their debts and taxes and don't have anything outstanding before the SOS will allow them to dissolve. But if they are filing bankruptcy, then you would be listed as a creditor and may be out of luck.

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But if the business is being bought out, then the acquiring company would be "swallowing" the old business and would be responsible for their debts and obligations as part of acquiring them. If they are just buying out assets, that wouldn't necessarily be the case.

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So if the owner is dodging you, I realize it may feel odd to file suit, but you need to take action to enforce your rights before something happens to prevent you from being able to recover your money..

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thanks

Barrister