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My company is taken over by another company!!!!

My company is taken over by another company!!!!

Old Jan 29th 2001, 2:43 pm
  #1  
hene
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Hello all, My company will be taken over by another company less than a month. Technically
speaking this isn't even a complete take over but rather this new company is buying all
the rights for my company's sw and hw technologies. After this buying period the current
hardware and software engineers will be working with them on contracts basis. As a H1-B
holder I have to find another job as soon as possible, but what concerns me most is to
avoid "out of status". Since the rule have changed, I know that I can work for new
employer as soon as I got the receipt number for my new petition. However, I don't think a
month is sufficient time to all these things happen, so I have the following questions. If
anybody have expertise on this matter, please helppppppp!

1. If I ask my current employer to put me on "voluntary leave" status after this
"buying" process until I find a decent job, am I be legal? My company doesn't cease
to exist but the title will exist for indefinite amount of time even after this
take-over. I have one good year for my h1b expiry time. Is this a viable solution for
my situation at all?

2. If I find a decent employer and they want to file a petition for me for
change-of-employer, how long does it to get a receipt number? And what kind of
documents my employer need?

3.If #1 is not even a legal solution what could be options for my current situation?

Please answer my questions! Thank you very much!

--Koo
 

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