Legal Question in Bankruptcy in Florida

Re: Lease on Bankruptcy

A lease may be discharged in bankruptcy. In fact, they may not be able to repossess any of the equipment used in the business. You should speak with the bankruptcy lawyer about this.

Be sure to check how the lease was signed. If you signed the lease personally in your own name, then you may have to file both a business and a personal bankruptcy to discharge of lease debt. If you signed the lease only as an officer or director of the corporation or LLC, then you may not need a file personal bankruptcy, but you may still need to file bankruptcy on behalf of the business.