purchase from a retail store

[mrlayneo]

I recently purchased items, with a credit card, from a retailer totalling around $15,000. I was not able to fit all the items in my vehicle so a few remained at the store. From the time I drove away the store was locked down after filing Chapter 7 and I could not retrieve the remaining items. I have been told that my stuff will be part of the retailers liquidation. This cannot be legal. I assume that I own this equipment not the retailer. When does the transfer of ownership take place in a sales transaction?

[2Bshinyandnew]

Do you mean the retailer filed bankruptcy, or did you filed for bankruptcy? A CH 7 is for individual debtors, not a corporation, so I'm a bit confused.

If you meant the retailer filed bankruptcy, then I would call customer service for the credit card you used and tell them what happened. Dispute any charges for merchandise not received.

[AngelinaCatHub]

Do you mean the retailer filed bankruptcy, or did you filed for bankruptcy? A CH 7 is for individual debtors, not a corporation, so I'm a bit confused.

If you meant the retailer filed bankruptcy, then I would call customer service for the credit card you used and tell them what happened. Dispute any charges for merchandise not received.

Not so, a Chapter 7 is liquidation and can be for any entity. I would expect that you own the items, Mrleyneo. You might go to the bk Trustee of the business with your reciept. You may be stuck for this stuff. 'Hub

[mrlayneo]

The retailer filed for bankruptcy. I found this, a corporation can file for CH 7,

When a troubled business is badly in debt and unable to service that debt or pay its creditors, it may file (or be forced by its creditors to file) for bankruptcy in a federal court under Chapter 7. A Chapter 7 filing means that the business ceases operations unless continued by the Chapter 7 Trustee. A Chapter 7 Trustee is appointed almost immediately. The Trustee generally sells all the assets and distributes the proceeds to the creditors.

[AngelinaCatHub]

The retailer filed for bankruptcy. I found this, a corporation can file for CH 7,

When a troubled business is badly in debt and unable to service that debt or pay its creditors, it may file (or be forced by its creditors to file) for bankruptcy in a federal court under Chapter 7. A Chapter 7 filing means that the business ceases operations unless continued by the Chapter 7 Trustee. A Chapter 7 Trustee is appointed almost immediately. The Trustee generally sells all the assets and distributes the proceeds to the creditors.

Good going, Layneo, Now, I hope the you can talk to the Trustee, bring his reciept and pick up his stuff. You know that old quip, 'possesion is 9/10th of the law'? I hope he can convince the Trustee. 'Hub

[BassBoy]

In my opinion, the items you purchased are no longer an asset of the store because you have a purchase agreement for them. What I would do is get in touch with a BK attorney that deals mainly with business BK's and ask this question. I don't know if the consult would be free, because you're not filing BK, but the few bucks it may cost you, if any money at all, will be well worth it for you to know. I'm not sure if you would be able to get any answers from the attorney representing the business because of the attorney/client priviledge.