Fredericksburg, VA asked in Bankruptcy for Virginia

Q: i was just wondering if a company files for chapter 11 will they still pay you

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1 Lawyer Answer
Juan E. Milanes, Esq.
Juan E. Milanes, Esq.
Answered
  • Bankruptcy Lawyer
  • Reston, VA
  • Licensed in Virginia

A: It depends. The company will require that you file a Proof of Claim with the Court in the proper format. The company will then proffer to the Court and/or certain creditors a Plan of repayment or reorganization. You may be a priority creditor that they desire to pay; you may be an unsecured creditor that gets paid in full, or paid nothing. Every case is different. You need to consult with a Bankruptcy Attorney in your area to take a look at this specific case and represent your interests.

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