140 and 485 with old company - should I or should I not ??

ramiyer78

Registered Users (C)
Following is my situation:
I was working with Company A for 2 years and i recently left Company A and joined Company B. Company A had a labor approved for one of their employees who left the company. Company A tells me that they can use the labor for me to process my Green Card out of good will with no obligations except for the lawyer fee. The labor is in the EB3 category with a priority date of September 2003. So even though i can apply I-140, i will have to wait for 2 years (??) before i can apply for I-485. This is not a problem for me as i donot need EAD card right away as i have H1B valid for 3 years. Company A is ready to start with I-140 immediately.
The company A's situation is that, they might be shutting down the office in the location where the labor was filed. And they have 50/50 chance of survival in the next 2 years (basically not financially stable)

1. What do i get to lose apart from the lawyer fee ?? (ie) is there any legal issues that i might end up with which will prevent me from getting a Green Card in future ??
a. If i go ahead and apply and the 140 gets rejected, will it be a problem for me in the future ??
b. If the 140 gets approved,
i. and the company A goes bankrupt.. can i still apply 485 for adjusting my status ??
if not, can i use the 140 with Company B and proceed with 485 in company B ?? Company B is in good financial standing.
ii. If Company A is doing great - Should i join back Company A to proceed with 485 application ?? or can i still be with Company B and just get the Green Card.

2. What if Company B also starts my GC process ?? Will the 2 I-140's conflict - is that ok ??

3. What is the expected waiting time to start I-485 after 140 is approved for my current PD which is September 2003??

thanks,
Ram
 
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