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The Times points out that, of course, most business travelers would have airline tickets to get themselves home, so they wouldn't be stranded. But settling the bill at that pricey business-class hotel could get a little sticky. As one specialist in travel law puts it, "I'm sure most hotels would demand a card imprint from the individual as security for payment" if a company has gone under. "I think it would be practically difficult for the individual traveler to demand that the hotel honor its agreement with the corporate [entity]—when it knows it will not be paid."
It sounds as if the best option is to try hard to avoiding finding yourself in that situation altogether…
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under US law the expenses of employees for approved travels are considered administrative expenses and they get paid first during bankruptcy liquidation, employees are like secured creditors in this way; most employees buy travel and then get reimbursed--aint that why they love collecting frequent flier miles and hotel points????--the point's are under their name not the employers.
Posted By Robert on September 24, 2008, 9:13 AM