That depends on a number of factors, including which chapter of bankruptcy was filed, what the value of the business is, what type of legal entity the business is (i.e. corporation, partnership, joint venture, etc.) and other factors.
You need to consult with a bankruptcy attorney in your area for more details.
Mark Markus has been practicing exclusively bankruptcy law in California since 1991. He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization, AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.
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