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LawTalk, Attorney
Category: Legal
Satisfied Customers: 37639
Experience:  I am a practicing attorney with more than 3 decades of experience in the legal field.
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I worked as a 1099 President start up firm and deferred

Customer Question

I worked as a 1099 President for a start up firm and deferred most salary while the firm raised $
The firm was not successful raising $. the founder/owner has elected to sell the asset to a private investor. The private investor has chosen to assume some liabilities but not mine,
The remaining original firm - who owes me over $100k - likely has no way, present or future, to pay me
Should I not place some type of lien on the asset, or somehow prevent sale unless my debt is paid?.
Submitted: 2 years ago.
Category: Legal
Expert:  LawTalk replied 2 years ago.
Good afternoon,
I'm Doug, and I'm very sorry to hear of your situation. My goal is to provide you with excellent service today.
While a lien would be appropriate, because you are a 1099 employee, that means that you are merely a creditor of the company and not a legal employee entitled to wage protection under PA law.
For you to be able to file a lien against the assets of the business, you must first sue the business and get a judgment. Only then are you eligible for file a lien.
If the new owner specifically refuses to accept your wage claim as part of the liabilities, then you have little choice but to sue the employer/company and seek to collect personally from the Owner who failed to protect your legal interests in the sale of the company. I might suggest getting your suit on file immediately, and as soon as the sale occurs, amend the complaint to add the new owner as well to the suit as a new Doe Defendant.
You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.
Kindly, remember to rate my service to you. That is how I am credited for assisting you.
I wish you and yours the best in 2015,