My friend is 50% owner in a corporation consisting of 2 owners. His business partner has declared personal bankruptcy and is now threatening to declare business bankruptcy. My friend wants to keep the business going. What are the options for my friend? Is there a way to divide the company up and then his friend can declare bankruptcy on his portion?
Asked on 12/29/09, 4:23 pm
1 Answer from Attorneys
Alan Wagner
Wagner, McLaughlin & Whittemore P.A.
tel him to buy the partner out.
Answered on 1/08/10, 9:19 pm
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