Accepting purchase order after Chapter 11 filed.
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Accepting purchase order after Chapter 11 filed.
Received purchase order dated 5-29-09, Chapter 11 filed 6-1-09. Should I accept P.O on terms?
Asked on June 1, 2009 under Bankruptcy Law, California
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
This is something you need to go over with your bankruptcy attorney. If you don't have one, immediately get one. Why? Because this may (most likely) be considered an asset and therefore, something you need to report to the trustee when you accept. In other words, go on with business as usual but you need to report the asset, unless one of your terms is complete dissolution. Try www.attorneypages.com and check his or her disciplinary record at www.calbar.ca.gov under attorney search.
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