Illinois  |  Real Estate Law

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11/13/09, 9:20 pm

Legal Question

We are a small condo association, 6 active owners, 1 inactive owner, and 8 units in foreclosure. By active, I mean paying assessments. Recently we received a huge water bill (over $10,000). The water department was sending the bills to the LLC/Developer. The LLC has since dissolved. We can't afford an attorney and we can't afford the water bill. Can our association file bankruptcy?


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