Reply to "Is Seduction Motorsports Out of Business?"

Alan MerklinDrclock - Elkins, West Virginia Supporting Member

IMHO a business owner knows when things are dismal and the ship is sinking....What people don't know is that said owners under Bankruptcy law can legally skim cash and pay themselves back for personal loans to the business etc. before going under. ( Liquidating and selling off inventory etc. is a big legal NO) Again, this is perfectly legal and is known as being an "Insider" and the business owner aka the Insider, must wait a period of six months before filing for bankruptcy. While still iffy that a customer will get any of their monies returned, this is the ideal time to take legal action against the company.

4/1/198:34 PM

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