Legal Question in Business Law in New Jersey

My company went Bankrupt, and I have a 401K...The plan administrator said they abandoned the plan cause no fees have been paid....I want to get the money out, but they said I have to contact the Bankruptcy trustee...
I have all my statements..The money is in the account, but they won't send me the release papers..
How can I get this money turned over to me..
Thank You
George

Asked on 12/05/10, 5:42 am

3 Answers from Attorneys

Kevin B. Murphy Franchise Foundations, APC

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As a Franchise Attorney I can tell you this is not a simple question. Bankruptcy cases and trustees are complicated. Consult with a good bankruptcy attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Foundations, a Professional Corporation

Answered on 12/10/10, 6:53 am

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John Corbett Corbett Law Firm LLC

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Bankruptcy can be a complex process and much of it is counterintuitive. After all, the effect of bankruptcy is to permit the debtor not to pay all or some of its debts. If you are not comfortable with dealing with the Trustee and the Bankruptcy Court yourself, you will probably need the assistance of a business lawyer.

My firm handles matters of this type, however the efficiencies in this matter may be influcenced by your lawyer's location. (You did not give enough information for me to tell if our Burlington County NJ office can help.) If I can be of further help to you, call or email.

See also: http://info.corbettlaw.net/lawguru.htm

Answered on 12/10/10, 8:17 am

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