[Jewelry making - Article 00909] - Re: [Orchid] Wholesaling one-offs

[Janet Kofoed]

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>     Unfortunately there are many well documented cases of a business
>     going bankrupt and the consigned goods being seized by the
>     bankruptcy court and sold to pay the secured creditors. As a
>     unsecured creditor you are the last in line for payment. Without a
>     contract that states that the consigned remain your property the
>     court sees them as if they were sold to the store on net terms. 

    Several years ago I had some consigned pieces caught up in a divorce
    suit under similar circumstances. I eventually got everything back,
    but it took more than a year. Definitely review your contract
    carefully. 

Janet Kofoed

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