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Submitted 247 days ago...

Costa891

Costa891

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Chapter 7 and Business Partnership

I am a 50% partner in a US based LLC and supply goods on a consignment basis to the US company from another company I solely own which is located in Europe. My business partner in the US company has filed for Chapter 7 personal bankruptcy and the stock supplied by my European company (which has not been sold or paid for) is now being held by the Trustee for disposal. What should I do?

My partner owns 50% of the US company but has no shareholding in my European company which supplied the goods. Neither I or the US company have received any payment for the goods on consignment which are valued at around $100,000.

 
 
 
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