In case he does, as a partner, you can contest the filing.

My business partner wants to file bankruptcy. There lies a difference of opinion in this regard, I agree that we might be going through hard times, but I don't want to file bankruptcy as of now. Moreover, I'm afraid it's going to ruin my credit as well. Can I stop him from filing one? We have a 50/50 partnership.

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I totally agree with Abbie above. As a partner of the business, he can file involuntary bankruptcy, only if he's actively involved in the business. If he's not an active partner, he can't file one. In case he does, as a partner, you can contest the filing. If the judge rejects his filing consequently, he might be liable to pay you the court costs.

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And what do you mean by hard times? Is your business unable to pay for its debts? Only then, a business bankruptcy can be filed. But, that doesn't mean that the debts will be discharged. Business bankruptcy can only reorganize the debts.

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Well, he can file personal bankruptcy and also involuntary bankruptcy as a business partner. Nothing you can do about that.


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