A community of 30,000 US Transcriptionist serving Medical Transcription Industry


WHY are WE getting legal notices of the Bankruptcy?? - mtnsp


Posted: Apr 02, 2014

Got mail entitled "IMPORTANT LEGAL DOCUMENTS ENCLOSED", and its the legal filings and info on the Chapter 11, as if we, the employees, are creditors???  That makes me WAY WAY NERVOUS, as if I wasn't nervous already.  Any thoughts? I flinched at the email that brought up we "would be paid".  Now I'm freaked.  Been with companies before that went BK and NEVER was included in the legal papers.

That is routine in any bankruptcy case. yes, as - an employee your are sort of

[ In Reply To ..]
along the lines of a creditor. Much of the notices are autogenerated based on the info supplied in their petition. As an employee, you are receiving money from MModal so in theory are a "creditor." Just in the normal course as in any bankruptcy, nothing to worry about.

Bankruptcy Notice - Anna Rose

[ In Reply To ..]
I was gone as soon as I heard they were in Chapter 11. Last day was last Saturday. Loved my accounts. Loved the platform. I've been in this place before and I know firsthand how quickly it goes downhill DESPITE their reassurances. GET OUT NOW!!

Anna Rose - Molleycat

[ In Reply To ..]
Did you have something to fall back on? I would love to quit if I knew for sure I would find something.

Bankruptcy - Anna Rose

[ In Reply To ..]
I'm taking Social Security Retirement. I'm done with this path FINALLY!

bankruptcy - Phatty

[ In Reply To ..]
Are you sure it will get worse because of the bankruptcy? Could we possibly not get paid?

Thank you for your reply.

We will get paid. - Dinosaur

[ In Reply To ..]
Employees are considered high priority creditors, so we are at the front of the line for payment. MM filed Chapter 11 so they are still doing business and need employees. Below is information on priorities for payment in Chapter 11.

http://www.law.cornell.edu/uscode/text/11/507


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