How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask dylatess Your Own Question
dylatess
dylatess, Attorney
Category: Bankruptcy Law
Satisfied Customers: 5155
Experience:  37 plus years of experience specializing in bankruptcy law
29685164
Type Your Bankruptcy Law Question Here...
dylatess is online now
A new question is answered every 9 seconds

Our Corporation filed Bankruptcy. The end was December 2010.

This answer was rated:

Our Corporation filed Bankruptcy. The end was December 2010. Whoever was supposed to file a final return did not and the CA Sec. of State was not notified..or the Corporation wasn't dissolved. So the Bankruptcy Trustee had a Final Return done and sent it to me.I in turn sent it to my Corporation Atty. His Assistant said some things are missing from the Return. I contacted the Trustee (several times on concerns) and he says his part is over.
I also asked him about the Bankruptcy paying my Atty. to dissolve the Return. He essentially said it wasn't his concern.
Can you shed some light on this?
Over 34 years, I have assisted my clients with debt problems having filed more than 32000 Chapter 7 and Chapter 13 Bankruptcy petitions.

When the corporation filed BK, any assets and liabilities become the responsibility of the trustee. And that is why he filed the return. Likewise, he is responsible for completing the return. However, since there is apprarently no assets for the trustee to pay for his work, he is not willing to incur any additional time. And there is no way of your attonrey being paid either unless you were to incur the expense. Regardless, the fact that the BK was filed dissolves the business. And if you receive any communication rom the state or IRS, turn it over to the trustee as you personally are no longer responsible.
Customer: replied 4 years ago.

That's what i thought...however he isn't communicating that towards me...


 


I know the Sec.State was paid the $800.for 2011/12?..he is very vague with me and emails appear annoyed.


 


There was about $30k liabilities 2 credit cards..all the equipment went to Auction..


 


My Corp. Atty. will be back Nov.1 and maybe he can clear things up.


I hope not to hear from the State or have to deal with him again. Thank You.


 

So to complete this session, please rate my answser ok or better. Otherwise, I am not compensated. Thank you.
dylatess and other Bankruptcy Law Specialists are ready to help you
Customer: replied 4 years ago.

 


So this so-called easy to dissolve a Corp. has a few hitches..i will have to pay my Atty. to dissolve it..as he can't do anything until the final decree is granted. I am not the Corp. why is that an expense for me?


 


I sent the final return to my atty. Apparently the Corp. can't be dissolved until the final decree is filed...


the Trustee told me 'they are in the process of filing a final account and the case should close(final decree) sometime in the first quarter of next year'


 


An email from the Atty. stated 'My office filed Applications for Final Compensation of Trustee's Council and the Accountant for the estate yesterday on Nov.14,2012. The hearing is set for Dec.19,2012'

Please post your new question. Thanks.
Customer: replied 4 years ago.

I just discovered this question went through as i was looking for the alert from you it was answered. Some glitch in computers...anyway do you have an answer for me?

Customer: replied 4 years ago.
Relist: Other.
answers are not responded to quickly...think it is a computer thing, not lawyer

Related Bankruptcy Law Questions