Posted By:
leon"Generally speaking, while a "consignor" (e.g., a collector seeking to sell by placing a card with an auction house) technically retains title to the goods (cards) consigned to/with a "consignee" (e.g., the auction house), if the consignee (auction house) filed for Ch. 11 then the goods (cards) consigned become part of the bankrupt consignee's "estate", and would then be available to satisfy the debts owed to the consignee's secured creditors."
Hey PC
Thanks for the response. So did this title "magically" transfer to the auction house? I am not a lawyer, by any means, but that sounds crazy. It doesn't seem like the title would change solely based on bankruptcy?.....take care