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Asked on December 10, 2013 under Bankruptcy Law, California
Answered 11 years ago | Contributor
You don't mention what type of bankruptcy was filed. If a chapter 11, the gym would remain in operation and your contract would be valid. If a chapter 7, then your contract with the gym could be avoided ands you would be left with little chance of recovery assuming that your filed a timely claim. You should, in any case, file a claim and hope for the best/
Unfortunately you would be what was known as a "unsecured creditor" in the bankruptcy and you would have to file a claim in the bankruptcy court when the gym files their petition for bankruptcy. The reality is that you may be very low on the totem pole behind many other large creditors and receive very little.
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