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I loaned a restaurant business in Chocago $20,000. I was a limited partner in the corporation. The business was sold by the general partner and I was not paid. The general partner has filed personal bankruptcy. Do I have any oprtions.
Optional Information: Country relating to Question: United States State (if USA): Illinois Already Tried: Trying to get a response from the General Partner and his attorney without success.
I think you do. Is the bankruptcy still pending?
Yes, there is a bankruptcy hearing June 1. The business was sold for less than what was owed to all the creditors but it appears the general partner just paid himself.
You could file a "proof of claim" with the bankruptcy court against him for fraud and theft because he wrongfully paid himself monies when he shouldn't have - you were also a partner plus owed money.If fraud is accepted by the Trustee - he won't be able to discharge the debt to you.You can pick up a proof of claim from the bankruptcy court where he filed or here is a link: