Corbin Electric In Chapter 11 Bankruptcy

[jjgold]

Mostly was paid cash
leveraged company to gamble
defaulted on loans
will not have to pay dime back
good attorney

key is to not put company in your real name and set up dummy corps


Let's pound the books and use loopholes in laws .

[Bread]

[onthewhat]

[dmtrader]

Mostly was paid cash
leveraged company to gamble
defaulted on loans
will not have to pay dime back
good attorney

key is to not put company in your real name and set up dummy corps


Let's pound the books and use loopholes in laws .

I'm sorry to hear about your business failure. Hopefully you have other sources of income.

You're not really describing a loophole. The law is set up to flush impossible indebted situations through the system instead of tying them up for years while both debtor and creditor suffer. Any credible businessman uses LLCs so creditors cannot pierce the corporate veil and sue the individual (they can if fraud can be determined). For suppliers, creditors, etc., that's the risk of doing business.

[jjgold]

Attorneys are you friends

[Deuce]

Corey B. Trots at it again. I need to get myself this fairytale litigator.

[buztah]

Will the common shares be spared and trade again once the corporation emerges from BK.

Caution: do not share your strategy here as the court could in future "pierce the corporate veil." Have your lawyer explain this to you and be sure you understand it well.

[jgiun1]

Attorneys are you friends

[SlickFazzer]

Sorry to hear the company went belly up JJ.

[pavyracer]

I would advice Chapter 7 for Corbin Electric instead. Big mistake.

[jjgold]

I took massive shots with company loans and of course I lost like usual so I go belly up and look for me to start a new company under a new name, Paver never mistake me for being DUMB.

[MartinBlank]

JJ, dare I ask...how did you manage to get your attorneys to work for free?

[tltaylor89]

Lol he sold the red work van

[podunk]

sorry to hear this jj

[paco]

"got everything in my mama name"

[jjgold]

JJ, dare I ask...how did you manage to get your attorneys to work for free?

[Cougar Bait]

Many fine books have been written in prison.

[pavyracer]

JJ is living the american dream. Be a business owner and declare bankruptcy. And then you wonder why you are paying 29.99% rate for a credit card.

[KingKing]

[jjgold]

Will be announcing my new business within 1 month

[capitalist pig]

Chapter 7 is the only way you wouldnt have to pay back money owed, chapter 11 is a restructuring of your debt. Anyway good luck on the new business venture.

later

[oiler]

Will be announcing my new business within 1 month

maybe u should think of writing a book.how to go bankrupt and be happy about it

[Flying Dutchman]

JJ, you never spend any time at the company 'cause your'e always HERE!

you sick fvk, that's why you're bankrupt.

[Indecent]

Mostly was paid cash
leveraged company to gamble
defaulted on loans
will not have to pay dime back
good attorney

key is to not put company in your real name and set up dummy corps
Let's pound the books and use loopholes in laws .

Glad the rest of us can pay for you to gamble.....

[treece]