Legal Question in Business Law in California

I have leased a machine, and the company went bankrupt.

I run a small phot lab business. I hade leased photo developing equipment from Agfa. Last December Agfa went bankrupt. They sold my lease to a financing company. They started collect a monthly payment. I do not have a same service as before.Is there any possible way to terminate lease agreement?


Asked on 6/07/06, 1:58 am

3 Answers from Attorneys
Matthew Mickelson Law Offices of Matthew C. Mickelson

Re: I have leased a machine, and the company went bankrupt.

It may be possible if they are breaching any provision of the lease agreement. It sounds like they may be doing that. Feel free to call me if you'd like to discuss this further.

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Answered on 6/07/06, 2:12 pm
Terry A. Nelson Nelson & Lawless

Re: I have leased a machine, and the company went bankrupt.

Maybe, it depends on the facts and decreased service in breach of the agreement. Contact me to discuss the details and see if we can help you in this.

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Answered on 6/07/06, 3:40 pm
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: I have leased a machine, and the company went bankrupt.

Your lease can be assigned to a successor, but unless the least itself allows it, the terms cannot be changed by the assignee. Further, your right to terminate due to poor service is the same after the assignment as before ---either grounds exist to terminate, or they don't -- irrespective of to whom you mail the monthly payment.

The above comments will be true for 98% of leases; yours may contain different terms, but that's unlikely.

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Answered on 6/07/06, 3:55 am


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