What to do about an unfullfilled contract and a bankruptcy filing?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What to do about an unfullfilled contract and a bankruptcy filing?
I have started a new small business that is based on a e-commerce platform. I am under contract with a website developer that is over 7 weeks late on delivery and am in over 5k in cost with horrible communication on final product delivery. Now I have been informed by my vendor that their company may declare bankruptcy. What are my most viable options?
Asked on April 23, 2013 under Business Law, Georgia
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
You can try one quick try to get your money back or have him hurry up to deliver your product. Or, you can track his bankruptcy filing and file a claim. Then file a motion to lift the stay as to your contract and demand specific performance. There really may not be a whole lot of options. If this is a company, see if there is anyone else you can deal with or force your vendor to intervene and work something out.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.