C
cubbacd1
Guest
What is the name of your state? MI
I have been a 50% shareholder with one other person for about a year and a half in a chapter S corporation. The other person is getting ready to file personal bankruptcy. Are there any problems (laws, etc) with me buying her out? Is there any paper work that needs to be filed with the selling/purchasing of chapter S stock? Or what problems might arise if I don't purchase her stock? Will her personal creditor's have any legal recourse to come after the business? The company has been financed with 100% equity. Please ask any questions you may feel relevant, I tried to cover the problem as concisly as possible.
I have been a 50% shareholder with one other person for about a year and a half in a chapter S corporation. The other person is getting ready to file personal bankruptcy. Are there any problems (laws, etc) with me buying her out? Is there any paper work that needs to be filed with the selling/purchasing of chapter S stock? Or what problems might arise if I don't purchase her stock? Will her personal creditor's have any legal recourse to come after the business? The company has been financed with 100% equity. Please ask any questions you may feel relevant, I tried to cover the problem as concisly as possible.