If company goes bankrupt, will my I-485 get affected?

[lken]

I just got EAD card. My I-140 was approved. I-485 has been pending since 05/2005.
I am using H1 to work for the current company, which sponsors my green card application.

My question is: if my current company goes bankrupt, will my I-148 get affected?
I am a software developer. I could easyly find another job in the "same area" if the company goes bankrupt.

If the answer is "Yes", should I look for another job using the EAD card now before the company goes bankrupt?

Thanks.

 

[tammy2]

I just got EAD card. My I-140 was approved. I-485 has been pending since 05/2005.
I am using H1 to work for the current company, which sponsors my green card application.

My question is: if my current company goes bankrupt, will my I-148 get affected?
I am a software developer. I could easyly find another job in the "same area" if the company goes bankrupt.

If the answer is "Yes", should I look for another job using the EAD card now before the company goes bankrupt?

Thanks.

If chapter 7 Usually not affected.

 

[TheRealCanadian]

If chapter 7 Usually not affected.

You mean Chapter 11. Chapter 7 is a complete corporate liquidation, and the entity WILL NOT EXIST once it is over.

 

[tammy2]

You mean Chapter 11. Chapter 7 is a complete corporate liquidation, and the entity WILL NOT EXIST once it is over.

Yes I was talking Chapter 11. Thanks

 

[gc_2006]

Lets not get caught up in bankcruptcy definitions - what the other gentlemen meant to imply (but didn't say clearly) is that a bancrupt company cannot respond to RFEs from USCIS.
Now lets look at your case. There are two great items that will help you. a) you have the I-140 approved (and hopefully you have a copy of the approval notice - if not, ask employer or lawyer to give you one). b) your I-485 has been pending for way more than 180 days. Hence you qualify for applying AC-21 portability and can move to another employer (by the way, AC-21 allows variation in salary and job location but so much in job title and duties).
Try to find another employer, have H-1B transfer and use AC-21 to continue with the other employer. You should be fine no matter what happens to your current employer. Of course it helps if you can find something before they hand you the pink slip.

I just got EAD card. My I-140 was approved. I-485 has been pending since 05/2005.
I am using H1 to work for the current company, which sponsors my green card application.

My question is: if my current company goes bankrupt, will my I-148 get affected?
I am a software developer. I could easyly find another job in the "same area" if the company goes bankrupt.

If the answer is "Yes", should I look for another job using the EAD card now before the company goes bankrupt?

Thanks.

 

[tammy2]

Lets not get caught up in bankcruptcy definitions - what the other gentlemen meant to imply (but didn't say clearly) is that a bancrupt company cannot respond to RFEs from USCIS.
Now lets look at your case. There are two great items that will help you. a) you have the I-140 approved (and hopefully you have a copy of the approval notice - if not, ask employer or lawyer to give you one). b) your I-485 has been pending for way more than 180 days. Hence you qualify for applying AC-21 portability and can move to another employer (by the way, AC-21 allows variation in salary and job location but so much in job title and duties).
Try to find another employer, have H-1B transfer and use AC-21 to continue with the other employer. You should be fine no matter what happens to your current employer. Of course it helps if you can find something before they hand you the pink slip.

Not necessarily they cannot respond . If the company is Chapter 11 they company is still functioning and can respond to the RFE.

My I-140 was applied while company was Bankruptcy Got approved along with more then 40 team members.

 

[TheRealCanadian]

Not necessarily they cannot respond . If the company is Chapter 11 they company is still functioning and can respond to the RFE. My I-140 was applied while company was Bankruptcy Got approved along with more then 40 team members.

This is important to remember - bankruptcy in the United States can be either Chapter 7 or Chapter 11, and the two are very different animals. Chapter 7 is what many indviduals from around the world may consider "bankruptcy" - the company has no money, is dissolved and what's left pays off the creditors.

Chapter 11, on the other hand, is more a "reorganization" where the company restructures its affairs, the shareholders (and to a lesser extent) the creditors take a bath, and then continues on as before. As an example, if I recall correctly Continental Airlines has gone through Chapter 11 no fewer than three times, and is still very much with us.