Business and Personal Bankruptcy – Are both needed?
November 2nd, 2010 by Questions
I own a business which is setup as a corporation. The business is not doing well and as such has caused me to personally accumulate a lot of debt. If I wanted to declare bankruptcy would I need to do it for both the business and myself or could I just do a personal bankruptcy and be ridden of the business that way? Since I own the business, wouldn`t it make sense that I just declared personal bankruptcy and lose the business that way rather than filing for both business and personal bankruptcy?
Posted from: Ontario
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