Legal Question in Bankruptcy in California

Chapter 11 filed by customer who was on term

One of our major customer filed a chapter 11. The products manufactured for them and a shipment on the way through vessel is worth of U$500,000.00. It used to be a L/C basis, but recently this customer requrest T/T basis upon receiving shipment.

In this case, how can we recover our damages?

And the merchandises were manufactured and shipped from Korea.

Please advise me.

Thank you very much!


Asked on 5/01/00, 1:25 pm

1 Answer from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: Chapter 11 filed by customer who was on term

I'm not familiar with the terms "L/C" and "T/T". You basically need to hire an attorney to protect your rights in the Ch. 11. There is no way to know specifically what can be done without analyzing the case file, seeing what the debtor's plan is, etc. Do you know if they ever received the shipment? If so, are these perishable goods? As you can see, I would need a lot more information to even begin to advise you. If the Ch.11 was filed in the Los Angeles area, feel free to give me a call and I will see what I can do to assist. Otherwise, I suggest that you contact a bankruptcy attorney in the area where the case was filed.

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Answered on 6/15/00, 2:15 am


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