I have a gas station inthat station my share is 40% and my other partner is filling bankcruptcy business one my share is minor

You are the minority owner of a gas-station business and your co-shareholder is filing bankruptcy. You wish to know the best way to continue the business.

When an individual seeks bankruptcy protection their interest in any business (whether incorporated or not) must be included in their bankruptcy estate. For shareholders in a corporation or limited liability company, the interest is their shares (not for example the assets of the business).

Once the debtor's shares become part of the bankruptcy estate, the trustee must decide whether to sell the shares or release them from the estate. Most of the time the trustee will let the shares go; but if the trustee chooses to sell them you can offer to buy them at a discount and become sole owner of the business.

While there is much more to consider before making a final decision, we can't touch on all the relevant points here. Instead, I recommend that you contact our office to discuss the situation in greater detail.

I hope this information has been helpful.