Legal Question in Bankruptcy in Illinois

Is brother-in-law still liable for business debts?

My husband and his brother were co-owners of a business. My husband had a stroke and his brother was left to run the business - right into the ground. The business, of course closed. All assets were sold and there was a line of credit at the bank (about $14,000) which was personally signed for by my husband and his brother. His brother has recently filed bankruptcy. Do I (I have power of attorney for my husband's financial affairs) have any recourse to make him pay his half of the money owed? It is my understanding that if the phrase ''joint and/or several'' is on the agreement, I'm out of luck and will have to pay the total amount and he won't have to pay a dime. Any response will be much appreciated.


Asked on 11/23/01, 8:20 pm

1 Answer from Attorneys
Charles Dobra Charles Wm. Dobra, Ltd.

Re: Is brother-in-law still liable for business debts?

Your husband might be liable to the creditor(s). Although you did not state, it would appear that your relative filed a Ch. 7 bankruptcy, thus, no co-debtor protection as in a Ch. 13 proceeding.

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Answered on 11/26/01, 12:17 pm


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