Florida  |  Business Law

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6/01/10, 7:04 am

Legal Question


I have a customer that order equipment from me back in 2008 totaling $2.1 million for a project. We have purchased all of the equipment now and have received payments of $1.5 million from the customer. Back in Nov 2008 they informed me they have to shut down the project. They now can not pay us the balance of the contract and we still owe some of our vendors money.

What are my options and can I take possion of the equipment and sell it? If I do sell the equipment am I obligated to pay the client any of the money from the sale?

Jon Berning


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