Post: dad losing business

Posted by daughter1975 on 12/22/07

My dad is losing his business because his partner declared
bankruptcy. They have a piece of property that my dad
offered the bank $20,000...the bank turned him down and
then sold the property for $40,000 - half of which goes to
my dad. So he offered what the bank will get. He believes
his attorney does not have him down as a creditor and he
has equipment that he should be able to use as coladeral.
He has paid $86,000 of his partners debt to keep the
business going. What are his legal rights?

Posts on this thread, including this one

dad losing business, 12/22/07, by daughter1975.