Legal Question in Bankruptcy in Florida
Corporate Bankruptcy
Our company which is a corporation is going under and we are personally guanteed on some loans. What does this mean to us personally. Is there a chapter of bankruptcy that the company can declare? Will we have to declare bankruptcy ourselves? Any information is helpful. Thank you
Asked on 8/18/03, 9:49 am
1 Answer from Attorneys
Alexander M. Rosenfeld
Rosenfeld & Stein, P.A.
Re: Corporate Bankruptcy
If the corporation fails to pay on the personally guaranteed loans, you will have a liability for resolution of those loans. I am privy to insufficient information to determine if you would be benefited by filing.
Answered on 8/18/03, 5:00 pm
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