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looking4u_tx
Guest
What is the name of your state? Texas
I had a c-corporation business that filed bankruptcy in 2000 under Chapter 7. State taxes in excess of $180,000.00 were owed at filing. These taxes included sales tax, diesel fuel tax, and gasoline tax. I am aware that I can be held personally liable, and that I cannot get rid of the liability by filing "personal" bankruptcy. The Trustee had almost $130,000.00 when appointed, but he elected to pay "adequate protection" to the bank, and then allowed them to foreclose on real estate that he made no real effort to sell. Does the Trustee have any liability? Why weren't the priority claims paid pro-rata first, before giving the bank money he got nothing for?
I had a c-corporation business that filed bankruptcy in 2000 under Chapter 7. State taxes in excess of $180,000.00 were owed at filing. These taxes included sales tax, diesel fuel tax, and gasoline tax. I am aware that I can be held personally liable, and that I cannot get rid of the liability by filing "personal" bankruptcy. The Trustee had almost $130,000.00 when appointed, but he elected to pay "adequate protection" to the bank, and then allowed them to foreclose on real estate that he made no real effort to sell. Does the Trustee have any liability? Why weren't the priority claims paid pro-rata first, before giving the bank money he got nothing for?