can the court take my property

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ken.g

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Post by ken.g » Tue Jan 29, 2008 12:16 am
If a Corp. has signed a lease/purchase agreement and after one year files bankruptcy, can the court take my property (tables, chairs, bar stools, sound equip.,etc.)that I left in the building that they agreed to lease or make an offer to buy. Also, if they paid a down payment, non-refundable, toward the purchase of the property, but defaulted and filed bankruptcy, can the court ask for the down payment that was made in good faith?
 
 

MelanieGiles

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Post by MelanieGiles » Tue Jan 29, 2008 12:49 am
Hi keng and welcome to the forum

Are you talking about a tenant who has been made bankrupt using your items? And a down payment towards the purchase of those items? If I understand you correctly, you would need to establish that you had retained ownership of the items. In the event of a bankrutpcy, the non-refundable deposit would likely be yours to keep, but you might want to check this out with a lawyer if your concern is genuine.
Regards, Melanie Giles, Insolvency Practitioner
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