Quote:
Originally Posted by John69
They will pay the same time ibill pay's
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That instills loads of confidence John
Arab_Sex:
Sorry to hear you or anyone else is a creditor WhatsTheirNameOfTheDay.
Truth is, they never sorted their basics out and did not have any contingency plans in place to ensure their business would continue and creditors would be paid as normal - on the due date.
WhatsTheirNameOfTheDay are now up shit creek and the best they can do is stand in the shit and pay off creditors as funds become available. Standing in the shit is not a good position to be in - it can get problematic
Tho.. while they are standing in the shit, it is vital all corporate laws are being complied with. Example... silly little details like stop taking other people's money on billing... and, don't assume "rights" to pay one creditor over another etc, but dispense funds owing on a pro rata basis, and, preferably not under the guidance/management of individuals who were the source of whatevers.
This is where forgetting these silly little corporate laws can come flying back with more shit to hit em in the face - and on a personal liability basis, even if there was genuine good intention on the part of the officers.
Hope you do get the funds you are owed - along with all other creditors, - and on a balanced basis. Any creditor is entitled to that and each may lose an equal portion of the indebtedness pro rata at the end of the day if there are insufficent funds. If not, there's an option of ShotGun99 Law and straight for the throat on personal liability claims against the officers - whether the corp then exists or not, is irrelevant.
Good luck man
