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Conversation Board

We greatly appreciate any advice you can provide on this topic. Please contribute your insights on this topic so others can benefit.

Kevin 6/30/2009

I was also left without payment from Buysiderealty / Iggy's House. I pushed a home back in December and was promised my rebate from Joe Fox, however, I never received it. Based on the recent transaction the company has been sold. How can the assets be sold and the liabilities of the company not be paid out? Iggy's House Asset Sale

Ken Gaebler 6/30/2009

Kevin, sorry to hear that. Well, the reality is they don't have to pay you from the asset sale if they don't want to. They can use that money for whatever they want. Your only recourse is to file a lawsuit and get a judgment, but with the corporate entity being gone, that's near impossible. Creditors of an entity can band together and force a company into what's called an involuntary bankruptcy, but, again, that takes time and money and is a pain. Long story short, we're out of luck (and money) on this one with very high probability.

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