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Relocation Contract and Chapter 11 Iowa

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  • beancounter
    started a topic Relocation Contract and Chapter 11 Iowa

    Relocation Contract and Chapter 11 Iowa

    I signed a relocation policy contract in 07 and the company filed for Chapter 11 in 08. The relocation policy states

    "B. An employee, who volutarily terminates their employment within one year of completion relocation (the definition of completion of relocation is the date the employee incurs the last relocation expense in which the employee sound reimbursement from the company) under this policy, will be required to reimburse the Company 100% of the costs incurred by the company associated with the relocation."

    Is this contract void under the Chapter 11 and second, since my house did not sale and I did not complete the relocation am I required to payback incurred expenses?

  • DAW
    replied
    Agreed. Contracts are always very language specific and very specific to the laws of the specific state involved. Any contract law related answer generally contains the phrase "show the contract to a local attorney". Even very small wording changes can make huge differences.

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  • Betty3
    replied
    It sounds like the contract might be void since the co. filed for bankruptcy. However, I would run the contract by an attorney.

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