H1B Renewal - Company Buy out

[p1kg]

Dear members,
My H1B is expiring Jun 2003 and I am yet to apply for renewal (next 3 years). In the meantime, my company is in the process of being bought and the sale of my company to this new company will happen before my H1B expiration date.

In all likely hood, I might get offered the same job from this new company but it will probably happen after my H1B expiration date.

1) What are my options to apply for renewal ?

2) Can I Apply for renewal using my current company before the sale date and wait for it to get approved ?
Once the H1B renewal is approved, then file for amendment of my H1B for the new company?

3) Is there any risk involved in apply for renewal of my H1B since my company is being bought over ?

4) If the new company offers me a job before the expiration of my H1b and we file for H1 renewal using the new company, can I start working immediately or should I have to wait till my H1B renewal is approved? Is there a grace period ?

Please help, any advice is appreciated
Thanks
P1

 

[jaxen]

1. You could apply for renewal now and make sure that the new company acquires all rights as a successor, in which case you need not file an amendment. Just need a letter from new company HR that the old company was bought and you continue to hold the same job with same salary and valid LCA

2. See above. Amendment is generally not required in such cases
3. No
4. No you can work for the new company immediately. But make sure that the renewal is applied before expiry of current H1- not withstanding the sale date. Have a contingency plan for posibility of sale date going beyond June 2003- discuss with current HR.