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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17080
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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What is the criteria for a bankruptcy trustee to sale your

Customer Question

What is the criteria for a bankruptcy trustee to sale your business (dba) in a Chapter 7 bankruptcy?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 5 years ago.

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on.

WALLSTREETESQ :

A trustee would sell a business if he can recoup any money from it to pay off creditors,

WALLSTREETESQ :

typically if their is a corporation, the trustee would sell only the shares of the corporation to see if their is any value to it,

WALLSTREETESQ :

if their is no value the trustee would not bother,

Customer :

The business is a dba and the debtor owns 50%. The partner cannot buy out and the business profits are marginal (maybe $30,000 per year the past 3 years). Would the Trustee try to sell the business equipment? The business is a restaurant.