Legal Question in Bankruptcy in California
The business I have worked for for 24 years is filing bankruptcy. I can't seem to find any info on line regarding the step by step procedures that will take place after the actual filing. Who closes out the books, answers unemployment filing claims, does quarterly and year end reports. Will my computer with the accounting program be removed? Do I no long show up for work after the filing? Please let me know what to expect or if there is a web site I can visit for this information. Thank you.
3 Answers from Attorneys
When a business files Chapter 11 bankruptcy, it does not mean it's going out of business ... it usually means it's trying to stay in business. I would suggest showing up for work if you wish to stay employed.
And run to the bank as soon as you get your paycheck.
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