QUESTION
What can I do on a pursuit of personal liability after corporate settlement?
Asked on Aug 27th, 2012 on Bankruptcy - New Jersey
More details to this question:
I was a partner of a corporation that defaulted on a line of credit. I filed a personal bankruptcy but settled with the bank because I was a personal guarantor, and wanted to avoid suit in the bankruptcy. A former partner was also a guarantor and settled with the bank on his own. That partner has threatened to sue me personally two years after the fact for the amount he settled for. Seems frivolous, but this seemed like a proper forum, and if he proceeds I will seek counsel. Thanks.
3 ANSWERS
3 Awards
You may be protected from the suit based on your bankruptcy discharge.
Answered on Sep 07th, 2012 at 2:17 PM
Bankruptcy Law Attorney serving Livingston, NJ
Partner at
Law Office of Stuart M. Nachbar, P.C.
2 Awards
If he does sue, get counsel knowledgeable in bankruptcy as he would have had to have brought suit during the bankruptcy.
Answered on Aug 31st, 2012 at 4:48 PM
Commercial Bankruptcy Attorney serving Davie, FL
at
Law Office of Jeffrey Solomon
Update Your Profile
You need to consult the attorney that handled your bankruptcy. Your partner could have been included in the bankruptcy and you might need to reopen your case to list the partner.
Answered on Aug 31st, 2012 at 4:48 PM