QUESTION
Hello, I'm an unsecured creditor and was wondering steps needed to get either my inventory or money from a company out of state who filed bankruptcy
Asked on Sep 14th, 2016 on Debtor and Creditor - New York
More details to this question:
Hello, I had inventory of sneakers in a company and they went bankrupt. I was told I should receive documents in the mail from the debtors lawyer but haven't received anything and it's going on 2 months. I'm an unsecured creditor and was wondering how to go about either getting my inventory back or the money. I have contracts where the debtor and I both signed stating the amount I would be paid etc. I am located in New York a the company is in Illinois
1 ANSWER
1 Award
The debtor's lawyer misled you. If you had inventory, you needed to assert your UCC lien within 10 days of the filing. You did not, so you lost your lien. You will get neither the inventory or the money. File a claim if there is a time to do so. Had you asserted a lien, you would have gotten back the goods you supplied.
Answered on Sep 14th, 2016 at 5:57 PM