Legal Question in Bankruptcy in Kentucky

Assumed name transfer

I own and run two small business's each with their own assumed name's under one s-corp. One from a leased location (auto repair) one is mobile (mobile lube).Poor economy and numerious other reasons I'am having to file chapter 7 on the corp. and personal. The second business Customer base I plan on continuing. My question is Can I start an LLC and transfer the assumed name to the new LLC.? If yes is their a waiting period.?


Asked on 2/22/05, 10:37 pm

1 Answer from Attorneys
E. Brian Davis Davis Law Office

Re: Assumed name transfer

The definitive answer to your question requires more facts. Basically, you will have to disclose all transfers made within the previous year, particularly to entities owned or controlled by you.

If the trustee appointed by the Bankruptcy Court believes that you have transferred the business to avoid paying creditors, the trustee will challenge the transaction.

You need to speak with an experienced bankruptcy attorney to plan the transaction and the bankruptcy to maximize your possibility of success. Good luck!

Read more
Answered on 2/23/05, 8:00 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in Kentucky