What can be done when a company is going bankrupt?
Jan Meriss Alfonso Assistant at Ascent Law LLC If you are a creditor, you can take some steps to ensure that you get your fair share. You may receive a claims form and be informed of a deadline to submit your claim. You may be given a contact person to contact if you have questions. You may also receive a link to a web page where you can find court documents, forms, and PDFs of court documents. Retention of title clause Retention of title clauses can be useful when a company goes bankrupt. This clause protects a supplier by allowing them to retain the ownership of goods until full payment is made. It is important to consider the facts of each situation before entering into a retention of title clause. It is important to register a retention of title clause with Companies House as it may become invalid against a creditor if it is not registered as a charge. It is also important to remember that the law relating to the retention of titles is constantly evolving. It is essential for...