Immi gurus ..Plzzzzz help(in crisis)

[mana26]

Hi Guys.,
1.I am under Schedule "A" category and had applied for my I 140 under EB2 category (employment based) in May of this year under PP.
In spite of the response by my lawyer to the RFE,my case was denied based on the Inability to pay (by the company) though i have getting my get my pay stubs and w2 regularly and me working in the company since the past 3 years and also the financials of the company provided by the lawyer.
My lawyer said we either apply MTR with service error or apply new I140 again since they do not know how long the MTR decision will take because of my H1 crisis(see below)
2.My H1b is about to expire in Aug 2010 mid week and I am in my 5th year of extension and my lawyer said if we apply for H1b they will only extend it till next year Jan 2011 because of my i140 denial and the fact that i entered the country in Jan 2005.
Please Help Me..I am so depressed and confused as to what to do now.
1.which is better? Applying for New 1140 or apply for MTR and wait till the decision and then go further with my H1b?
2.Apply for the H1b now -get it approved till next year and then refile for another year dependin on my I140 status?
Any Inputs appreciated'
Thanks a lot in advance
Mana

[liveusa]

This is my personal view. I would not challenge any I-140 denial & not sure how they would respond. As ur H1B renewal is nearing. I would get the renewal first. Then once u have a renewal u will be safe till next year. So once u get the renewed H1B u can then immediately file for I-140. Also make sure if there is a time limit for refiling I-140.