Legal Question in Business Law in Florida

Solvency

I received a letter stating that a company that had issued me two checks last year has gone into solvency. I cashed the checks last year and they cleared. The lawyer states in the letter that I owe the money back. Is this true? If so, why? The company is EnergyFlow, LLC, which has declared bankruptcy, chapter 7.


Asked on 8/23/04, 6:57 pm

1 Answer from Attorneys
Craig Dorne Craig M. Dorne, PA

Re: Solvency

The question is when did they file and when did you receive the check. The payment might be deemed a preference which may have to be repaid. Consult an attorney in your area.

Read more
Answered on 8/23/04, 9:40 pm


Related Questions & Answers

More Business Law questions and answers in Florida