Legal Question in Business Law in Iowa
My company had a contract with a French company for exclusive distributorship of our products. The contract was valid for 3 years and then it was set to be automatically renewed unless a notice given. Now three years are over but the French company is in the debt restructuring stage. It seems the contract cannot be cancelled during this stage (bankruptcy). Is that true? They continue to claim to be our exclusive distributors but we do not do any business with them. What are my options?
Clive Sherman
1 Answer from Attorneys
Before you get too far into your "options" Things to think about: What law governs the contract? French or US/Iowa? Who drafted the contract? What court was the bankruptcy filed in? Is the contract for goods or services? What about CISG? Bankruptcy law in what country? Are you owed money? Do you owe them money? Secured or unsecured creditor? These are all things you have to get to the bottom of before you can exercise any "options". There's homework to attend to.
Related Questions & Answers
-
I work as a independent field inspector. I take pictures of houses for banks and... Asked 4/09/15, 8:36 am in United States Iowa Business Law
-
I signed a book contract they are doing a horrible job I would like to break and... Asked 4/01/15, 10:22 am in United States Iowa Business Law
-
Someone has used a picture of me and also my business logo without my consent. What... Asked 2/18/15, 8:16 am in United States Iowa Business Law
-
Built house in 2013. Signed contract with city to pay for sewer hookup prior to... Asked 10/29/14, 1:23 pm in United States Iowa Business Law
-
We sell boats. I made a deal with a customer and transposed a number on the purchase... Asked 10/23/14, 11:30 am in United States Iowa Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
