Subcontractor sold their receivables to a financial services company who is trying to collect from us
We are general contractor. One of our subcontractors sold their receivables (invoice) to a financial services company. It looks like the subcontractor is really suffering and may be filing for bankruptcy soon. However, the financial services company is trying to get collect on the receivable from us. They (financial services company) just filed a UCC Financing Statement. In the past few weeks we were issuing joint checks to the subcontractor and their supplier. The financing company is asking us to remit all payments to them. Who do we pay? Does the financing company have rights against us if we didn’t pay them? Does the sub have rights against us if we pay the financing company? What’s the effect of the UCC statement and/or does the financing company somehow have the subcontractor’s lien rights to protect them?