URGETN HELP -H1B Status after employer company close

[sivadevana]

Hi,
My friend is now in India after his two years work on H1B in US.
But, unfortunately,his employer company was closed,but his employer did not cancel his present H1B.
He is still holding valid H1B visa and I-797 approval till 2010 for same employer.
Would my friend be allowed to enter US and then transfer his H1B to other company?
Please let me know his current H1B status in details and also let me know his all possible options as soon as possible.I would appreciate, if anyone responds quickly.
Thanks& Regards

[txh1b]

The friend has to get the transfer done while he is outside the US and enter with the new I797 from the new company. He can still use the visa of old company. Entering on H1b while a job for that company does not exist is fraud and illegal.