Legal Question in Bankruptcy in Idaho

Chapter 11 after not being in business for one year

In the state of Idaho can a person file chapter 11 even if they hav'nt been in business for over one year?, however they own the commercial building that once held their business. Presently the building is being leased to an indivual that is paying rent on time, maintance etc., and has been for one year. I'm under the assumption that chapter 11 is for reorganizing a business that is in operation.


Asked on 7/21/99, 8:07 pm

1 Answer from Attorneys
Susan Freiman The Legal Clinic

Re: Chapter 11 after not being in business for one year

THe decision whether to file a Chapter 11 or some other kind of bankruptcy proceeding is a very complex one, based on consideration of all the aspects of the debtor's situation. No respectable lawyer would ever make such a recommendation on the basis of a picture obtained over the internet.

Go to a lawyer and get a consultation which is worth something.

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Answered on 7/27/99, 5:45 pm


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