Re: Coporate Assets subject to Personal BK?

Posted by Taziblue (68.130.241.39) on August 01, 2003 at 13:31:47:

In Reply to: Coporate Assets subject to Personal BK? posted by anon on August 01, 2003 at 11:18:09:

In law there are no absolutes. General rule of law is that the assets of the corporation can not be reached for actions of individuals.

Of course, there are exceptions such as fraud.

If you pick up any books on business, you will find that many people chose corporations or llc in order to minimize their liability.

You really need to speak to a good bankrupcty attorney. Make sure you feel comfortable with whoever you pick - you will be spending a lot of time together, so choose wisely.

You can get some general information from books available at your library and also on this website. However, bankruptcy courts have no patience with pro se filers and will not help you if you make a mistake. You really need to spend the money on an attorney. It will save you in the long run.

Most lawyers will give you a free consultation.

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