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Roy Hadavi
Roy Hadavi,
Category: Legal
Satisfied Customers: 770
Experience:  Attorney at Law Offices of Rosenstein & Associates
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Question about partnership creditor claims, texas, one

Customer Question

question about partnership creditor claims
JA: What state are you in? It matters because laws vary by location.
Customer: texas
JA: Has anything been filed or reported?
Customer: one creditor filed suit pending
JA: Anything else you want the lawyer to know before I connect you?
Customer: can partnerships file for bankruptcy protection
Submitted: 2 months ago.
Category: Legal
Expert:  Roy Hadavi replied 2 months ago.

Hi. My name is ***** ***** I would be happy to provide assistance. Please give me a moment to formulate a response.

Expert:  Roy Hadavi replied 2 months ago.

A partnership may file for bankruptcy protection under Chapter 7 or 11 of the bankruptcy code. However, the partnership bankruptcy proceedings do not alleviate the personal liability of the partners. There is no limited liability for partners in a partnership and therefore the individual partners would still be liable for the debts of the partnership. The individual partners would also need to file bankruptcy in order to receive individual protection.

Please let me know if you have any follow-up questions or need clarification.

Expert:  Roy Hadavi replied 2 months ago.

Thank you so much for allowing me to help you with your question. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (i.e., 4 or 5 stars)(hopefully Excellent/5 stars!). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

Expert:  Roy Hadavi replied 2 months ago.

Hi. Did you have any follow-up questions or need me to clarify anything? If not, I would appreciate you rating my service as Good or Excellent (i.e., 4 or 5 stars)(hopefully Excellent/5 stars!). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!