Business Bankruptcy Laws in CO USA

[suhel]

What is the name of your state (only U.S. law)? Colorado.

Greetings to all.

I am from India and have been in export business. I have been selling to different customers in USA.

I have now facing a problem. One of our customers who has been working with us now closing his business due to recession and going to file bankruptcy as per his statement. As we are far away and are not aware of laws then how can we protect ourselves or represent ourselves?

Is there any law in USA which provides safeguards to the foreign businessman from such happenings where the sellers does not have any choice except to accept what the erring customer says.

Just need some advise.

Suhel

[JETX]

Originally Posted by suhel

As we are far away and are not aware of laws then how can we protect ourselves or represent ourselves?

You can hire a local (Colorado) attorney to represent your business, or you can simply get in line with the other creditors and see what happens.

Is there any law in USA which provides safeguards to the foreign businessman from such happenings where the sellers does not have any choice except to accept what the erring customer says.

Absent a personal guarantee on the debt, no.