H1 and L1 visas together

[Rythm09]

Hi,

I am currently working for company A which is going to file my L1B sometime in Feb.

At the same time,my H1B for 2010 quota is currently under processing through company B.

With this situation,I have few doubts.

1.If company A files my L1 when H1 is also under processing,what will be the consequence?
2.If L1 is filed after I get my H1 approval,will L1 get approved or rejected??
3.As per my knowledge,one cannot have both L1 and H1 visas together.But can I hold both H1 and L1 petitions at the same time?
4.If I go for L1 stamping,will my H1 petition get cancelled??
5.Looking at the current trend,if my L1 gets rejected during stamping and after somedays if I go for H1 stamping will there be any impact?

Kindly help answering these questions.Its very urgent as I have to give my consent for the project for which L1 would be filed by today.

Thanks a lot in advance.

Regards,
Rythm

[kabkaba]

You can certainly have two petitions on your behalf.
You can even have two Visas in your passport if the Visa officer does not cancel the previous Visa, it is up to the officer.
But you can only use one visa and corresponding petition to enter the US and only hold one status while in the US.
Any Visa application does not cancel any other petition. Entry on one Visa does not cancel the other petition.

One Visa or petition denial will not affect the other petition/Visa if employer/job was the reason for denial. If your qualifications was the reason, that can affect.

[Rythm09]

Thanks a lot for the reply.