Legal Question in Business Law in California

Corporate Bankrupcy

I need to file for corporate bankrupcy - my corporation is small - under a $ 1million a year in revenues.

I signe a personal guarantee for a business loan and would like to put my home in a trust; it is the majority of my net worth and I would like to protect it. How can I do that and who would I contact for a corporate bankrupcy?


Asked on 2/20/07, 11:29 am

1 Answer from Attorneys
Terry A. Nelson Nelson & Lawless

Re: Corporate Bankrupcy

You've got some serious problems. Such transfer would risk being held as a fraud on creditors, if it was part of the assets your pledged in your guarantee. Sort that out before doing anything else. Consult with local bankruptcy specialist attorneys.

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Answered on 2/20/07, 3:18 pm


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