My business partner who was my father, who has recently died,

When your father passed away, all assets belonging to your father vested in his executor or estate trustee. This includes any loans payable to your dad. The line of credit which he allowed the business to use is essentially a shareholder loan. It is an asset that belongs to your father's estate.

Who ever the estate trustee is can call this debt on behalf of your father's estate. They will do this by immediately demanding payment from the company along with a demand to stop using the line of credit. The executor or estate trustee can also attend the bank and have the line of credit frozen so that it cannot be used anymore.

If the company refuses to voluntarily pay, the executor or estate trustee can commence an action on behalf of the estate to recover these monies. This is generally how it is done. There may be some provisions in a shareholders' agreement, however, that deals with shareholder loans that may impact exactly how to do this. It may be wise to visit with a commercial lawyer at this time to review your options in more detail.

Hope this gives you the options you were looking for.

Kindly accept so that I can be credited with the above assistance.