Businesses are not entitled to obtain a discharge in a bankruptcy so there is almost never any reason to file a business bankruptcy except to reorganize the business debts. Hope this perspective helps!Ask a similar question
You need to refer to the partnership agreement. You cannot do anything about im filing individually and that alone brings partnership interests into the fold. however A general partner can file for involuntary bankruptcy, but only if the business is unable to pay its debts. (A limited partner, someone without an active role in the business, cannot file for involuntary bankruptcy.) Even if the partnership isn't paying its creditors, a bankruptcy judge may reject an involuntary bankruptcy if the debts are in dispute. Partners opposed to bankruptcy can contest an involuntary filing. If a judge rejects the bankruptcy, the partner who requested it may have to pay the other partners' court costsAsk a similar question
A business entity can file bankruptcy with the approval of its Board of Directors. If it is an LLC, then the manager can file bankruptcy if the operating agreement provides such authority. If he has obtained a discharge in a Chapter 7 case filed within the past 8 years, he can file bankruptcy but cannot obtain a discharge. Your question is somewhat scattered. You need to consult with an attorney for an in-depth analysis. Search this site, or ABCworld.org for a certified business bankruptcy lawyer in your area.
Posting questions anonymously and receiving general answers do not substitute for consulting with an attorney licensed to practice in the jurisdiction in which you live. Answers posted here by Kevin C Gleason are only intended for general education of the public on legal matters. Please consult a qualified professional before deciding what to do about your situation.Ask a similar question