Legal Question in Business Law in Maine
Getting investment money back
A business/restaurant that I invested
money in has closed and now the bank
has foreclosed. I have a Promissary
Note for my investment. Do I need to
hire a lawyer to get my money back?
Asked on 1/21/08, 9:39 am
1 Answer from Attorneys
Jerome Gamache
Ainsworth Thelin & Raftice, P.A.
Re: Getting investment money back
If you have a promissory note but it is not secured by collateral, then you are unsecured. Do you have a personal guaranty or is the note to a person not a corporation? You may want to consider at least consulting with a lwayer for a 1/2 hour, armed with the facts, to better evaulate your chances of recovery, but without personal liability or security the chances for recovery are not good.
Answered on 1/21/08, 11:17 am
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