Legal Question in Bankruptcy in New Mexico

Transfer of Current business under new Company Name and Owner to hide assets fro

I'm not sure but I have had a proposal to take over a business in my name with a sideletter stating the company although in my name is actually the person who is filing bankruptcy on their business and personal. See the new business is a new business doing the same thing that the business going bankrupt is doing. The owner is in over his head and has no choice but to file but then he does not want to lose what he has built. Is this legal? I just need to know that I am not doing anything illegal before I make a decision. If you need more information you may call me at anytime on the # I listed above.

Thank You


Asked on 5/23/00, 11:26 am

2 Answers from Attorneys
Ken Koury Kenneth P. Koury, Esq.

Re: Transfer of Current business under new Company Name and Owner to hide assets

It is not legal. You will go to jail.

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Answered on 7/05/00, 12:56 am
John Colistra Law Office Of John A. Colistra

Re: Transfer of Current business under new Company Name and Owner to hide assets

I CONCUR WITH MR.KOURY'S RESPONSE. YOU'RE ASKING FOR BIG TROUBLE.

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Answered on 7/05/00, 2:20 am


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