Extending H1B based on previous employer's LC

[luorihui]

Is it possible to keep extending H1-B based on previous employer's approved LC? Assuming the LC is not canceled.

If so, what if the previous employer goes bankruptcy, will the LC still valid?

Thanks

Roy

 

[great guru]

Approved LC must be utilized for filing I 140 within 180 days, otherwise LC will be cancelled automatically.