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#95494 - 07/09/03 03:59 PM Manufacturing business buyout
Bankerette Offline
100 Club
Joined: Jan 2003
Posts: 126
South of Canadian Border
I need help!! A manufacturing company had it's petty cash account with our facility. There were 3 signers. It has a few thousand dollars still on account. The business went out of business and the facility was sold. (I don't know what the new company assumed besides actual property) The new company has no accounts with us. Of course, the three signers are no longer employees of the new company.

I, obviously, have not viewed any legal documentation. Several thoughts are flowing through my mind. But I really need an expert opinion.


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Operations Compliance
#95495 - 07/09/03 04:23 PM Re: Manufacturing business buyout
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,350
Galveston, TX
Leave it alone - let it go dormant- and escheat it to the state.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#95496 - 07/09/03 04:57 PM Re: Manufacturing business buyout
Anonymous
Unregistered

I'd love to, but the new company has called wanting to withdraw the funds.

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