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Still working through dissolution of my S Corp.Personally,

have been just discharged from...
Still working through dissolution of my S Corp.Personally, have been just discharged from Chapter 7,Debts still remain with the company,in Maryland.What is the downside of dissoluton of the company with Judgements in place in addition to other debts for the Company ??? I seem to get more confused with each piece of legal interpretation which read about.In my last question to JustAsk the suggestion was to let the Corp. die a natural death...I have since discovered that this option still leaves me wide open to future litigation. Please help me to work through this endless nightmare !!!!
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Answered in 13 hours by:
4/8/2010
Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36,715
Experience: Bankruptcy Lawyer. Experienced.
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Hello,

Thank you for your question.

all of the debts/liabilities of your S. Corp. should have been listed on your chapter 7 petition as contingent liabilities. Thus you would then be able to walk away from the corporation without chance of future litigation. If you did not list your as corporate debts/liabilities on your personal 7, consider filing an amendment.
Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36,715
Experience: Bankruptcy Lawyer. Experienced.
Verified
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Ellen
Ellen
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