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To: Cube who wrote (6003)6/18/1998 1:20:00 PM
From: Doo  Read Replies (2) | Respond to of 7054
 
Thank Goodness, Cube, you're not a lawyer. You'd certainly disgrace the most noble of professions.

BTW, want a piece of the private placement of HOLY?



To: Cube who wrote (6003)6/18/1998 2:22:00 PM
From: Z man  Read Replies (1) | Respond to of 7054
 
At least three creditors are needed to file for an involuntary bankruptcy proceeding against you. They have to show that they indeed are owed money. You then have a period of time to respond to the court as to the validity of their claims and your current ability to pay your obligations. Should you not respond the bankruptcy proceeds.
That's my understanding of how it works in the US.
Hope this helps

Zman



To: Cube who wrote (6003)6/22/1998 2:27:00 AM
From: Mr. Pink  Read Replies (1) | Respond to of 7054
 
It is called involuntary bankruptcy and the test in a corporate filing is 2/3 of creditors in number and over 1/2 of debt in amount can file if a corporation is in default.

For an individual, a judgement may be obtained and if it is not complied with, a filing of bankruptcy may be made. Fleeing nocturnally camelian-style could be a condition to obtain an involuntary bankruptcy.

Mr. Pink


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