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  1. #1
    Join Date
    Jan 2009
    Posts
    3

    Default A Company is Refusing to Refund My Retainer

    My question involves independent contractors in the state of: Michigan

    I installed wood flooring for a carpet retailer that had locations in Michigan and Ohio during the years 2002 - 2008. During that time a retainer was withheld in the amount of $2,500 to be used for repairs or problems that might arise from an installation. In July of 2008 the Michigan stores were closed but the company is still operating in Ohio under the same name. It has been one year since I worked for them and the money should have been refunded since there were no outstanding repairs or problems with my work.

    My question is: can a company legally withhold a retainer just because they claim the stores were not profitable and their liabilities were in excess of their assets?

  2. #2
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,307

    Default Re: A Company is Refusing to Refund My Retainer

    I would be inclined to say that no, it is not legal.

    What does your contract say regarding the return of the retainer?

  3. #3
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: A Company is Refusing to Refund My Retainer

    Quote Quoting Dean Tocco
    View Post
    My question is: can a company legally withhold a retainer just because they claim the stores were not profitable and their liabilities were in excess of their assets?
    You mean, they discharged their debts in a bankruptcy proceeding?

  4. #4
    Join Date
    Jan 2009
    Posts
    3

    Default Re: A Company is Refusing to Refund My Retainer

    No.. there was no bankruptcy.. the company is still in business. I spoke to the CFO and he said that due to financial circumstances involving unprofitable operations and liabilities in excess of assets it was closing its stores in Michigan and the corresponding assets and liabilities, including all retainers was officially dissolved via the Secretary of State...Is Small Claims Court an option?

  5. #5
    Join Date
    Jan 2009
    Posts
    3

    Default Re: A Company is Refusing to Refund My Retainer

    My contract said that the money was to be held for one year and refunded to me if there were not any repairs or claims against me which there were not...can I take them to Small Claims Court.. or are there other legal options?

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