# how many beeks have 2 pay back money 2 groeb



## jim lyon (Feb 19, 2006)

Never done business with them but if any checks were written without court approval after filing for bankruptcy they might be ordered to be repayed pending approval of a restructuring plan.


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## Ian (Jan 16, 2003)

Secured creditors can reach before fillings were done


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## Tony Rogers (Oct 18, 2012)

Brian, I have heard Bankruptcy Trusties have a habit if sending out notices period, knowing some will hire an attorney to fight and some won't. What were the terms of your contract, at one point did you get paid in relations to their filing date?


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## bdouglas (Dec 18, 2014)

I'm not involved in this case but from my experience in an unrelated business, the trustee can go after funds paid BEFORE the bankruptcy was filed. I have deposition wednesday.


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## Brian Suchan (Apr 6, 2005)

I've never sold them honey, just heard thru the grapevine of some beeks havin 2 pay back huge amounts of money. Upwards of the 500k range, that would be unbearable


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## JRG13 (May 11, 2012)

So if I understand correctly, they have to pay it back as other creditors have priority??


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## jim lyon (Feb 19, 2006)

JRG13 said:


> So if I understand correctly, they have to pay it back as other creditors have priority??


My guess is they want all creditors paid proportionally. Another element is establishing that those who received larger shares don't have some connection to the debtor. I sympathize with everyone caught in this.....well maybe not everyone.


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## Ian (Jan 16, 2003)

Here in Canada I believe secured creditors can reach as far back as 6 month prior to the time of filing bankruptcy. This cleans up any situation where as the company would pay off un secured creditors as cash flow slips. IF the re orginization of the business does not satisfy or if the sale of the companies assest do not cover secured creditors, they will reach as far back as they can to recoup losses. Anything then left over is divided equally among the rest. 

I got caught on the wrong side of a seed business 15 years ago as they went broke. I got paid 6 cents on my dollar for the money they owed me from sale of seed... As was told to me by my lawyer, even if you managed to get a cheque out of the companies finance, it would likely be clawed back through their bankruptcy lawyer.


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