Quote:
Originally Posted by Z eliminator
at that point what happens to the goods . eg my engine, cams, and all the other parts ?
do they get sold off ? or does he complete the work ?
Z
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First, take physical possession of your parts - you still own them, and you WILL probably require the services of a lawyer to do so.
For the things that you pre-paid for, you are a creditor to the business and this indebtedness to you makes you just another of the creditors whose debts will be "re-structured". You might argue that you can take it in parts but they would all have to be in-stock but whoever is managing the business under the Chapter 11 arrangement will need to sanction it, so start a dialogue with whoever that is overseeing the business.
You are out of time and need to take some action, otherwise you risk losing everything that you actually own as well as the money you've prepaid.
It is time for some action on your part ...