Uncertain...frequently warranties of Cos that go BK (C-11), as pre-petition liabilities are able to be escaped by the company. However, that matter would need to be decided by the bankruptcy process and court - and is NOT certain by any means.
If the Bankrupt company is just the retailer then the warranty is still covered by the manufacturer. If the manufacturer goes bankrupt then the retailer covers the warranty. The seller is responsible for a warranty. Clearly if the seller is the manufacturer and they go bankrupt then it's most unlikely that the warranty will remain in force.
Nothing.
It can not pay its employees or pay for its services.
you can claim a CAPITAL GAIN LOSS ON YOUR TAX RETURN FOR THE YEAR IF THE COMPANY GOES BANKRUPT that's it.
I have a claim on a car insurance policy with AIG. What are the chances of this claim being met?
When one goes bankrupt, one's debts are cancelled.
Not likely. Bankrupt means that they have no money.
move.
Well, NASCAR maybe purchased by another company or person. It is too big to just give up on. Someone will buy it.
The company still has to pay it off, it might even just rest on the owner's, or the person who took it out, hands.
It means a bank goes out of business or goes bankrupt.
If they're not bankrupt yet, they soon will be!! All the money made (if any) goes into LB's pockets.