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Subject: Re: When a company goes out of business
From: David Gaynon <[log in to unmask]>
Reply-To:Records Management Program <[log in to unmask]>
Date:Wed, 19 Nov 2008 13:37:55 -0800

text/plain (10 lines)

Sometimes this becomes an issue for the bankruptcy trustee.  Depending on industry regulations there may be a requirement to preserve records for a given period of time.  In such a case record storage companies may expect to be paid up front for storage for the full retention period.  In any case the trustee will want to have accounts receivables retained for a time to assess available resources from which to pay creditors.

In my one and only experience with this the cost of record storage was deemed a trustee cost and was thus funded before calculating available assets from which creditors might receive a portion of what was owned to them.

David Gaynon

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