L1A : Parent company goes bust. US subsidiary survives and profitable.

[sonia4biz]

Hi Experts,

I have a L1A valid for next 2 years. My parent company has gone bust but the US division is safe. What happens to my L1A status ? What might happen when I go for extension or GC ?


Will appreciate your thoughts ?

Sonia.

[raghvi]

Hi Experts,

I have a L1A valid for next 2 years. My parent company has gone bust but the US division is safe. What happens to my L1A status ? What might happen when I go for extension or GC ?


Will appreciate your thoughts ?

Sonia.

How is it that the parent company is sold off/dissolved but the subsidiary is safe? Technically L1 is for intra company transfer but since the parent is no longer existing the transfer basis no longer holds much meaning. With that said, you may not face any issues up front if the US subsidiary still has work for you but whenever you go for extension you might face issues. Advisable to convert to H1 of US subsidiary in that case.

This is my opinion not legal advice.