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Questions and Answers > EB-5 Investments

How will it affect my EB-5 application if the company I invested in files for bankruptcy after my I-526 is approved?

My EB-5 I-526 was approved 4 years ago and I had my interview 3 years ago. My visa application has been under administrative processing since then. The company I invested in created enough jobs. However, they filed for Chapter 11 bankruptcy a year ago. Am I still eligible for an EB-5 visa? Will this affect my immigration process?

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Answers

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    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    Bankruptcy on its own is not a basis for denial provided the investment created the necessary number of jobs. It may be possible to save this case.

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    Ed Beshara

    Immigration Attorney
    Answered on

    First consult with an EB-5 attorney. Based upon required jobs being created and your investment funds at risk until the end of the conditional permanent residency period, you may still qualify for an unconditional residence card.

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    F Oliver Yang

    Immigration Attorney
    Answered on

    It is really hard to tell given the unusual circumstances you mentioned regarding the bankruptcy and 3-year-long administrative processing. You will probably need to retain an experienced attorney to go over your case details first.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    Probably need more details but Chapter 11 is not a full bankruptcy, so as long as the funds were put into the project and the required jobs created, you should be fine at the I-829 stage.

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    Stephen Berman

    Immigration Attorney
    Answered on

    If your investment in fact created 10 new jobs, perhaps you can still get approved.

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    Robert V Cornish Jr

    Securities Attorney
    Answered on

    If the jobs were created, you should be able to get your visa. To get back some or all of your money, you should work with a litigation attorney to make sure you exercise all of your rights in the bankruptcy court. You will need to file proofs of claim and make sure your claims are not extinguished.