BANKRUPT RETAILERS ,. <<\ ?.>w Ridgeland. July 2 I have to file a claim with the - ' As a result of thc bankruptcy court. ! declining economy, an .Warranties. increasing number o f Validity of outstanding ! retailers are closing (heir warranties is different in doors and lea\ ing shoppers each case. If a manufacturer confused and concerned. goes out of business, "Shoppers are left consumers may be able to wondering what wil! happen rely on waranties provided 1
t o goods they haven't by retailers. Many extended
received. gift cards, and warranties andservice plans outstanding warranties;" are provided and said Bill Moak, President' administered hj- third CEO of the B e t t e ~ E s i n e s s parties. and they typically Bureau (BBH) Serving are nor affected by retailers Mississippi:-The following going out of bi~siness. is some advice that n c .Gift cards. Under offer t o consumers if a Chapter 7 bankruptcy, the retailer files for Chapter 7 consames itlust file a claim bankruptcy." and gcnerallj will receive Goods or sen'ic.5 part o i the \ a!lie ofrhe card 1 due. Unfortunatel>. under bask in Chapter 11 bankruptcy l a u s . sivdntions. the courts make eonsumers are at the back decisions on whether the o f t h e line regarding b~isinrssmust honor gift benefits. Normally any gain,; rartl; t v gift certificates from the sals of company "Sometimes iI assets go first to paying retailers have wooed new j back secured creditors and custorne:s by accepting a 1 employee waees. bsnkrupt competitor's gift i Customers who paid with cards. Our ad\~icein these : credit cards, howevel. ma) cases is for the consumer beable to dispute :he charge t c iedeern these cards as with the credit card soon as possible," said company and get their Moak. money back. Those paying The RBB has been by debit card or check will serving Mississippi consumers and businesses since 1964. The reliability of companies can be checked online at www.ms.bbb.org 'rby calling 800-987-8280.
Citizens First National Bank of Princeton, A Nationally Chartered Bank v. Cincinnati Insurance Company, An Ohio Corporation, 200 F.3d 1102, 1st Cir. (2000)