Legal Question in Business Law in Georgia

Double Business Owner

If I have two separate businesses both LLC and one files bankruptcy forcing me into personal bankruptcy, would I be able to continue doing business under the other business or would I have to bankrupt it as well?


Asked on 7/15/09, 9:39 am

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Double Business Owner

No one can possibly answer without knowing the financial details (and other facts) of you and the business(es). See a bankruptcy lawyer.

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Answered on 7/15/09, 9:51 am
Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

Re: Double Business Owner

The bankruptcies would not preclude the other business from continuing, but the personal bankruptcy would likely have an effect on the business since presumably you are an owner and, therefore, that asset would be involved in your personal bankruptcy.

If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.

The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.

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Answered on 7/15/09, 11:48 am


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