VR-Businessworld.com

Your Cutting-Edge business Resource

sample notice of business closure Article


   business Navigation


Sample Business Letter Format
Sample Business Plan
Sample Letter Of Business Closure
Sample Notice Of Business Closure



Below, you'll find extensive information on leading sample notice of business closure articles and products to help you on your way to success.

Bankruptcy For Business: Will I Lose My Incorporated Business?
By Jay Fleischman
If you are considering filing for bankruptcy, but you own an incorporated business, you’re probably wondering if your personal bankruptcy will mean small bankruptcy as well. Especially if the is a viable revenue source, you want it to keep operating after your bankruptcy discharge.

The common belief is that personal bankruptcy won’t affect an incorporated entity. After all, you incorporated your to separate your personal liability from your risks, right? If incorporation protects you from corporate liability, shouldn’t it also protect the from your personal liability?


Unfortunately, the is not protected if you file for bankruptcy protection. Although you do not technically own the corporation’s assets, you do own the stock. Since stock is just ownership rights to the business, your stock (and the ownership of the corporation) will transfer to the estate after you file for bankruptcy

protection.

Because the estate then owns the stock, the trustee can liquidate the assets of the company to pay your creditors. Once the assets are liquidated, the corporation will most likely have to cease operations – just as if you had filed for small bankruptcy.

If you want to keep your operations going, you do have the option of buying back the stock from the estate at fair value –the liquidation value of the stock. Since the liquidation value typically isn’t very high, especially if the corporation’s assets are subject to a bank’s lien, this can be a good option for eliminating your personal debt while still keeping your running.

If you are considering filing for personal bankruptcy, it will be worth your time to determine the fair value of your corporate stock, so you will know how much you will need to buy back your from the estate once your bankruptcy petition is filed.
New York bankruptcy lawyer Jay S. Fleischman is the Managing Attorney of Fleischman Consumer Law Center. He has helped thousands of New York consumers end their bill problems and get back their good credit. Go to www.NewYorkBankruptcyHelp.com to learn more about your options, ask questions, and get more information.

 

We strive to provide only quality articles, so if there is a specific topic related to business that you would like us to cover, please contact us at any time.

And again, thank you to those contributing daily to our sample notice of business closure website.

Additional Related Resources      
Persistence Can Be Deadly To Your New Online Business
By Jennifer Herndon
You've probably heard the saying "the only way to fail is to quit." We encourage persistence in people from the day they are born. We prop our babies up and reach out for them as they try to take Read more...
Home Business Taxes - Give Yourself A Raise
By Ron Sedlak
Your take home pay could go up next week. What? You mean a raise? Yeah ... sort of ... give yourself a raise. Get serious! Okay, okay ...This info Read more...
Make Money Online With Free Internet Business Ideas
By tanny
Did you see the title for this post? Yes it does say FREE. There are free internet home business ideas that can make money online. It is harder to do but it can be done, it is all about how you Read more...
Tips On Business Goal Setting
By Victor Ghebre
Just like personal goals and career goals, business goals can help you stay motivated and focused on what you want you achieve in your business. They also provide a great measure of how much progress Read more...
© 2006 VR-Businessworld.com. All rights reserved. business