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Iam partners in a business the got sued and have a judgment…

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Iam partners in a...

Iam partners in a business the got sued and have a judgment by defult t for $251,000. it is an LLP but I am being told that if we file bankruptcy and if see of the equipment don't cover the judgement then I can be sued personally

Lawyer's Assistant: Because laws vary from place to place, can you tell me what state this is in?

North Dakota

Lawyer's Assistant: Has anything been officially filed? If so, what?

The judgment I have consulted many lawyers and they are all talking $40,000-100,000 to defend so was not able to hire one and he won the judgment by default

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I think that's it

Submitted: 8 months ago.Category: Legal
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Answered in 5 minutes by:
11/11/2017
Lawyer: DrakeLAW, Lawyer replied 8 months ago
DrakeLAW
DrakeLAW, Lawyer
Category: Legal
Satisfied Customers: 1,038
Experience: Attorney
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Hi, my name is ***** ***** I look forward to helping you, please give me a moment to review and possibly research answers to your question.

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Lawyer: DrakeLAW, Lawyer replied 8 months ago

Unless your have a partnership agreement that states otherwise, your personal assets are protected from the liability of the partnership. Was the judgment taken against just the LLP and none of the partners individually?

Please kindly rate the question so I may be credited. Thank you. You can still ask follow-up questions.

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The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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