Is there a USA equivalent of a winding up petition?

[XM5ER]

Hi all, as the title says, is there an equivalent. I have a big us company that owes me a considerable sum, no dispute just a lot of pissing about with payment. I need to get their attention as I am fed up waiting now.

Any ideas.

[jeff m2]

You really need a US lawyer that is acquainted with the inside of a courtroom. (must be from the same state, preferably from the same county)

I would not entertain debt collection companies, get a lawyer.

I am currently chasing some debt from a company that is being bought by another company.


The laws of each state vary, laws in each state change, for example a company being sold in New Jersey no longer needs to inform it's creditors of a pending sale, and evidently you can't file a pre lien without a judgement.

[XM5ER]

Hmm. Looks like there is no simple answer, no surprise there then. This division is likely to be sold shortly too, I have a feeling that no one is getting paid until the end of this quarter in order to massage the sale price.

I once threatened a uk subsidiary of a US company that was in chapter 11 with a winding up order, they paid. I may try the same trick as they have a rather large subsidiary here, in fact my terms are signed here despite the business being done in the US in this case

Time for one last big bluff I think.

[sgrimshaw]

In short not unless you can get together with other creditors:
http://bankruptcy.cooley.com/2012/05/articles/busi...

[jeff m2]

sgrimshaw said:

In short not unless you can get together with other creditors:
http://bankruptcy.cooley.com/2012/05/articles/busi...

Reality.
A company will start to get itself in a position to suit themselves before filing.
Very little will be left to be shared among creditors.
The lawyers will be paid first along with a court representative (in some States), if there isn't enough money to pay the lawyers they will file against any creditors paid 30days prior to filing, claiming back the payment.(preferential payment law)
Of course anyone with half a brain would pay a buddy or spouse 31 days prior to filing.
The creditors paid in that 30 day period consult their lawyers and file for an exemption.
The lawyers handling the bankruptcy now send out notices to all creditors of each appeal.
Considering that most, if not all, will not want to repay the money they received all will appeal
Net effect is the generation of literally hundreds of notices.
All sent at a minimum cost of 250/hr.

Forcing them into bankruptcy will not get you paid.
of course there is some satisfaction in that they will cease trading (under that name)!!!!