bankruptcy for general contractor

[odyweaver]

What is the name of your state (only U.S. law)? TN
We hired a general contractor to do some remodeling. The entire job cost is $20k per contract. We have paid $10k. The GC has just notified us that he is filing bankruptcy. We think that the remaining work left to be done will cost no more than $10k - so we may be ok. But, we have reason to believe that the GC has not paid the subcontractors that have already done work on the job. Do we need to be concerned about that? Or can we safely just walk away from the GC and get someone else to finish the job? Also - can the GC require that we pay any more to him? The payment schedule in the contract is pretty vague, simply stating that payments are due upon 25%, 50%, etc completion. But what constitutes x% completion is not specified in the contract.

[latigo]

I think it behooves you to go to the federal bankruptcy clerk and ask to see the debtors filing. Look for Schedule B, item #16 and see if he has listed you as an account receivable.