Subcontractors, materialmen, engineers, laborers and creditors who are affected by the Vandervert Construction Receivership are all in danger of major losses and possible bankruptcy. A receivership is similar to a bankruptcy, except it is in state court. A court appointed receiver has been placed in charge of paying those who are owed money. Debts can be paid only by order of the Court and sub-contractor lien rights are preserved. The Receiver will operate and/or liquidate the business to try to pay some percentage of each creditors’ claims.
If you are a creditor, subcontractor, materialman, employee or professional owed money by Vandervert Construction you should act now and call an attorney to preserve your claims and lien rights.
Action should be taken now to:
1. Preserve and foreclose your lien rights in the Vandervert Construction receivership.
2. File your secured or unsecured claim in the Vandervert Construction receivership or subsequent bankruptcy.
3. If you have been greatly affected by the Vandervert Construction receivership, you may need to protect your own business from your subcontractors and creditors through reorganization, non-bankruptcy work out or possibly your own business bankruptcy. Laywers with experience in these activities can help you.
5. Educate yourself by getting competent legal advice regarding your rights as a creditor in a receivership or corporate bankruptcy.
Attorneys experienced in bankruptcy, secured and unsecured claims and contractor lien law are better suited to represent your interests in these matters than attorneys in general civil practice. Steven Schneider, Attorney at Law, P.S. has been practicing in this area for twenty-five years at all state and federal court levels.
If you and your business are affected by Vandervert Construction’s unfortunate situation, you need to contact a lawyer who is experienced in contractor lien law, filing for creditor claims and bankruptcy. Filing your claim as soon as possible will help you to be proactive throughout this process. www.StevenSchneiderLaw.com