L1 to H1: Urgent info needed. Help pls!

[SVR]

Hello,

I am on L1 visa now.
Since my company will not sponsor H1 for me,
I am planning to get my H1 processed through another
employer (I came to know abt this from my friends who
got their H1 done the same way).

I assume that H1 will be done by Oct,07.
My contract with my current employer will get over
by Dec,07. I will be released in Jan 08 only.

I have a couple of qns now.
1. Is it possible for me to continue on L1 after I get the H1?
2. If so, how long can I continue without changing the status?
3. Will my L1 get invalidated once H1 is approved (Oct, 07)?
4. If so, will I be asked to quit my job?
5. Do I need to file a change of status to move to H1 from L1?
6. If so, who (I, my new employer) should file that?

Pls provide your inputs.
Your help in this regard will be much appreciated.

Many Thanks.

[Subramanya]

H1 issues vs L1 issues

I am on L1 visa now.
Since my company will not sponsor H1 for me,
I am planning to get my H1 processed through another
employer (I came to know abt this from my friends who
got their H1 done the same way).

I assume that H1 will be done by Oct,07.
My contract with my current employer will get over
by Dec,07. I will be released in Jan 08 only.

I have a couple of qns now.

1. Is it possible for me to continue on L1 after I get the H1?

---- YES and NO. If you do not join your H1 employer and have arrangements and agreements with them to join at a later date you can continue with the emplloyer who has sponsored L1

2. If so, how long can I continue without changing the status?

---- Read above

3. Will my L1 get invalidated once H1 is approved (Oct, 07)?

---- Read above

4. If so, will I be asked to quit my job?

---- Read above

5. Do I need to file a change of status to move to H1 from L1?

---- There is no change of status in this case as you are and want to change the type and class of Visa

6. If so, who (I, my new employer) should file that?

---- Only an employer who want to employ you on a H1 can apply and file for H1 and not you

Subramanya