Question: An employer, files bankrupcy. The employer does not inform creditors, employees nor any one associated with the bussiness. The employer continues to run the bussiness into the groud. The question is, are the transactions and financial obligations that are accured AFTER the initial filing of bankrupcy ( 1= years there after) new or are they covered by the protection of the application?
Answer: You are asking a complex legal question. First, if a corporation declares bankruptcy, a trustee is appointed, and the trustee notifies all known creditors of the bankruptcy. A creditor’s meeting is held, and a notice of that meeting is published in the local newspaper. Therefore it is impossible for the employer not to inform creditors, unless they have deliberately withheld information from the trustee. If that’s the case, you should contact the trustee or a lawyer.
However, if a bankruptcy did occur, any transactions or obligations incurred after the bankruptcy are new; they are not covered by the bankruptcy.
Again, we would strongly suggest that you contact a lawyer for further information on this specific case.