According to a Yahoo posting:

"I was on the call too. I had realized before even getting on the call that anything invoiced and not collected PRIOR to the Chapter 7 filing is gone. If ECG did get paid by the clients - that money will now be held by the bankruptcy court and distributed to “Secured” creditors first (ie., IRS, Secured Lenders, etc.). No staffing firms will see ANY money from what was once ECG or its 40 shell companies. Nor are we likely see it from our “end clients” - as they will most likely be instructed by their legal counsels not to pay us directly on anything prior to 1/8/08. The reasoning for this is that they still may be forced by the bankruptcy court to pay ECG, as crazy as that sounds."

Tags: Business