Legal Question in Bankruptcy in Costa Rica

Trustee trying to reclaim share of Foriegn Corp.

I was owed a portion of money in Costa Rica by a US Citizen. After he wrote me 2 bad checks, I threatened criminal action and Jail time in Costa Rica. He played ball. I told him he could transfer his shares and his partner's portion of shares in a Costa Rican Corporation that held a Condo. We then bought out the other share holders and becames full owners of the Corp and the Condo. About 2-3 months later his partner filed apparently bankruptcy. Now I am being pursued by a bankruptcy attorney in AZ telling me I need to sign the partner's shares over or else the trustee will file a lawsuit.

My question is.......... Can they come after my assets in the US based on a transaction that happened in Costa Rica that was 100% fair and legal? And what if I just don't show up to the lawsuit? What's the worst that could happen here?


Asked on 3/26/09, 10:02 pm

1 Answer from Attorneys
Lesley Hoenig Lesley A. Hoenig, Attorney at Law

Re: Trustee trying to reclaim share of Foriegn Corp.

I can tell you the reason you are being pursued is that it is a fraudulent transfer of property. It might be that a proceeding in costa rica would have to be commenced to pursue you. To know whether you need to be concerned, you probably need to consult a local bankruptcy attorney about what the local laws are about this, as well as learn about what treaties may be applicable to this situation.

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Answered on 3/26/09, 10:07 pm


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