Legal Question in Bankruptcy in Ohio

Starting a new corporation during bankruptcy

Assuming I have investors who have provided all start-up capital for incorporation, legal fees, and initial operation costs; Can I start a new company while in a Ch.7 or Ch.13 bankruptcy if I have investors who have provided all start-up capital for incorporation, legal fees, and initial operation costs and there is no out of pocket expense for me? If not, could I incorporate before filing, or would this have legal repercussions?


Asked on 11/21/01, 9:34 am

1 Answer from Attorneys
Frank Rozanc Frank J. Rozanc, Esq.

Re: Starting a new corporation during bankruptcy

I would not do anything of this nature until your bankruptcy has been discharged. You do not have to be the incorporator or promoter to be involved, but you don't want to expose those potential business assets to attack by your current unsecured creditors.

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Answered on 11/21/01, 12:50 pm


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