business partner problems after bankruptcy
Date: Wed, 06/22/2011 - 07:23
I was just wondering....I filed a bankruptcy about 2 years ago after a bad business venture with my brother (partnership) went south. The bankruptcy was mostly business-related debt including some personal debt. My brother is now being sued by Revenue Canada for the full amount that we owed (my share was written off in the bankruptcy)...and he is now threatening to take me to court in order to force me to pay my half. I keep trying to explain to him that I am not responsible for it because I wrote if off in the bankruptcy and that I have no control over how Canada Revenue conducts their bill collections but he won't stop. He says papers are in the mail and he will see me in court in about 6 months. I'm confused....if the debt was written off in the bankruptcy then I shouldn't owe it....why do I have to go to court? Why did I bother claiming bankruptcy if I have to pay this debt anyhow? Who do I talk to? What should I do? Thanks for your time.
your brother has no case
first talk to the trustee that oversaw your BK.if those debts were discharged on your end your brother won't get squat.in fact he would be penalized in the same way anybody would for suing on a debt that been discharged in BK.again let the trustee know this.he should set your brother straight.
Normally I can respond with clarity but not in your situation as
Normally I can respond with clarity but not in your situation as I am not familar with Canadian bk law. . .
The problem I see is that you are dealing with a Canadian obligation. Did you file bk in Canada or the US? Either way you really need to discuss this with an attorney who is either versed in Canadian bk law or who understands cross-boarder issues.
Des.
My sister is a senior agent for Revenue Canada. I have sent her
My sister is a senior agent for Revenue Canada. I have sent her an email asking her for the info.
