We have two clients, in Florida, that have a partnership. One partner decided they wanted out of that partnership so they instigated a sale of their half of the partnership to the other partner. The framework was in place for the sale and then they decided they needed to file Chapter 7 Bankruptcy before they signed the papers to finalize the sale. How does this affect the sale, if at all, to either partner. Thank you.
And what do you do for your "clients"; are you an attorney, accountant, or other professional? If you are not an attorney, you need one to handle the bankruptcy, and also should have had one to do the sale documents.
Yes. At a minimum, it stays the sale bc it is an asset of the estate. It may possibly still go thru, but only under the watchful eye of the court.
