What is my recourse if my former partner who owns 24.5 % of the stock in my business and owes me 4.3M dollars has filed a Chapter 7?
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What is my recourse if my former partner who owns 24.5 % of the stock in my business and owes me 4.3M dollars has filed a Chapter 7?
Asked on August 30, 2011 Florida
Answers:
Mark J. Markus / Mark J. Markus, Law Offices of
Answered 12 years ago | Contributor
If there are assets being distributed in the Chapter 7, you will be notified and you should file a proof of claim to share in the distribution. Otherwise, unless you have some basis to challenge the bankruptcy (such as proof of false statements on the petition and schedules), there isn't much you can do.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
bankruptcy blog: http://bklaw.com/bankruptcy-blog/
Follow Me on Twitter: @bklawr
Mark J. Markus / Mark J. Markus, Law Offices of
Answered 12 years ago | Contributor
If there are assets being distributed in the Chapter 7, you will be notified and you should file a proof of claim to share in the distribution. Otherwise, unless you have some basis to challenge the bankruptcy (such as proof of false statements on the petition and schedules), there isn't much you can do.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
bankruptcy blog: http://bklaw.com/bankruptcy-blog/
Follow Me on Twitter: @bklawr
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