Legal Question in Bankruptcy in Illinois

OMC Bankruptcy Filing

OMC (evin-John ) outboard motors has filed for chap11.

It appears that is only for liquidation purpose. I have in inventory engines that now appear to have no warranty available. I owe them some money. Can I lay claim that because i may have to warranty the engines on my own that the money I owe them may be reduced? Or that customers still in warranty may make a claim against me.?

Can we withhold payment until the case goes forward and we can review our options.?


Asked on 12/29/00, 11:51 am

1 Answer from Attorneys
Charles Dobra Charles Wm. Dobra, Ltd.

Re: OMC Bankruptcy Filing

Your question is complicated. But as a practical matter, since OMC is filing for REORGANIZATION rather than LIQUIDATION, I don't think that the warranty propblem which you describe will occurr. If you wish an office consultaton, you may call call me or another bankruptcy lawyer. GOOD LUCK!

Read more
Answered on 1/02/01, 11:33 am


Related Questions & Answers

More Bankruptcy Law questions and answers in Illinois