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Recent Bankruptcy questions
S Corporation had three shareholders. One shareholder was
S Corporation had three shareholders. One shareholder was under investigation for some personal items by the police, not connection with any of the activities of the corporation. He fled the country. He is not to be found. What will happen to the corporation? Is the Corporation technically terminated? How will this situation be handled?
Me and my partner have a construction company. We are an
Me and my partner have a construction company. We are an INC. We had a judgement placed against us for a check that was written and did not clear. The person who judgement was awarded to is now trying to black male my partner "who happens to be a retired NFL player" saying if he doesn't pay then he is going to go to the local news and do a story on a retired NFL player who cant pay his bills. Is there anything we can do to stop him?
One of my friend asked me borrow money weeks and he used my
One of my friend asked me borrow money for couple weeks and he used my credit card on his business credit card merchant.He did that by his willing without my permission and did not paid back.He said recently he is going to file "bankrupt."The amount is about $40000 it is still remained as my credit card balance.Is there any way to get money back?How come he feel free from every duty if he filed bankrupt.Thanks
If there are two judgment creditors and the judgment debtor
If there are two judgment creditors and the judgment debtor files for protection, do the two judgment creditors have the same standing or does the creditor with the earlier judgment get everything until their judgment is paid, and then the second creditor gets what's left?
I have a customer that has filled chapter 11 and owes me
Hello, I have a customer that has filled chapter 11 and owes me for few invoices. I just found this out seeing as I am acquaintances with the accountant. She sent me the notice from the courts, that they sent to their company. I have not received anything from the courts as of yet, the filing was on 6-28-16. I asked her is this notice that I will not be getting paid and she said no, we are waiting on court approval to pay invoices and expect to be out of bankruptcy in 90-120 days.They continue to order from by business, since the filling, with 30 day terms, but I really don't feel comfortable letting that kind of money go out the door, with the uncertainty of when I will get paid.So, I am seeking council on this matter, with the current knowledge given. Is there something that I can do to protect myself or a document I can have them sign to assure payment will be made? I can attach the notice if that helps. Thank you in advance for your help.
In the recovery of reasonable expenses INCURRED authorized
In the recovery of reasonable expenses INCURRED authorized either by Statute or Contract, contrary to some peoples thinking.(1) It is the prevailing Individual and NOT the attorney who in essence is requesting the recovery of the expenses [including attorney's fees] INCURRED- Correct ?(2) Since the "prevailing party" has to prove to the court that he actually INCURRED these expenses [which includes the attorney's fees] does he not have to produce the actual proof of payment of these expenses i.e. cancelled checks credit card statements etc? and not just submit a bill and say here your honor, this is what I paid.As an accountant, the definition of "expenses incurred" are those expenses for which you have physical proof that they were either paid or a legitimate promise was made by a written promise to pay them.
We are a -haul trucking company with our own semi-truck
We are a long-haul trucking company with our own semi-truck repair shop. We make repairs to the owner operators' semi-trucks for thousands of dollars at a time. Little by little they pay us back. However, sometimes they leave our trucking company and they don't pay their repair bills. We currently have several such truck owners. The amounts they owe us range between $15K and $40K per truck. I know that filing liens against their trucks would be a complex process involving submitting complicated paperwork and closely following various deadlines. I need to find a reputable company whose employees would follow all rules and regulations and file proper IL Labor and Storage liens on the trucks. I found numerous Commercial Debt Collection companies online (attorneys), however they all said they didn't file liens.
I am told the statute of limitations on using Mistake as anView more business law questions
Hi, I am told the statute of limitations on using Mistake as an affirmative defense to breach of contract is 3 years. Is this true and can you cite an authority for this? Thank you!JA: Because laws vary from state to state, could you tell me what state is this in?Customer: AZJA: Have you talked to a lawyer yet?Customer: Only hereJA: Anything else you think the lawyer should know?Customer: noJA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Corporate Lawyer about your situation and then connect you two.