What is the name of your state? NY
We have a customer who is incorporated in Ohio. We've done business with them for 10+ years. Last week they cleaned out the store and closed up owing us about $800.
I spoke with their accountant who by the way said he is owed almost $9000 from the same customer. He told me after tax season he will prepare a spreadsheet showing all the payables and he will allocate the remaining cash in the company's account proportionally and send a check to each supplier.
He guessed that the company has $100,000 in payables and $20,000 in cash. He also told me that the owner has no plans to file chapter 7.
Is there anything I can do to protect my interests or is it up to the whim of the accountant and/or owner at this point?
We have a customer who is incorporated in Ohio. We've done business with them for 10+ years. Last week they cleaned out the store and closed up owing us about $800.
I spoke with their accountant who by the way said he is owed almost $9000 from the same customer. He told me after tax season he will prepare a spreadsheet showing all the payables and he will allocate the remaining cash in the company's account proportionally and send a check to each supplier.
He guessed that the company has $100,000 in payables and $20,000 in cash. He also told me that the owner has no plans to file chapter 7.
Is there anything I can do to protect my interests or is it up to the whim of the accountant and/or owner at this point?