Legal Question in Business Law in California

Re: lease

Your question is confusing.

If you bought equipment, with payments to be made over time, or leased equipment and the seller filed for bankruptcy, you still owe the money.

If the seller sold you equipment that it did not own, then you do not need to pay them. However, there may now be larger issues that you need to deal with.

You should take to an attorney about this, and discuss the full, specific facts.

Re: lease

As I understand it, you are just now learning for the first time that the equipment wasn't theirs to sell you but instead belonged to a leasing company. Your only remedy will be to immediately file an adversary complaint in bankruptcy court for fraud so that the money they got from you, and your other expenses and attorney fees, will be declared non-dischargeable. Then there is the small matter of your having all this property that belongs to the leasing company. If I can be of help in untangling this mess, please call anytime.

Re: lease

What would be the nature of the loss you suffered in this matter? Why or how are you out any money, time or trouble? What did the storage entail? Why was it a problem to store the equipment if you bought it? Can you describe how you feel you were mislead and how things would have been different had they not declared bankruptcy?