Can the trustee sue the general partners of a partnership if the partnership cannot pay all its outstanding liabilities under a bankruptcy filing?


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trustee partner business bankruptcy

Can the trustee sue the general partners of a partnership if the partnership cannot pay all its outstanding liabilities under a bankruptcy filing?

Yes, if the partners have signed a guarantee of payment of the partnership’s debts; most creditors require such guarantees from at least one partner.

(Reviewed 11.10.08)

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