Can a corporation or limited liability company file a Chapter 7 or 13?
A corporation or limited liability company can file a Chapter 7 but will be considered no longer doing business. A corporation or limited liability company does not receive a discharge as a discharge is only reserved for individuals. Some corporations choose to file a Chapter 7 to officially close down the company or to avoid time consuming depositions and other discovery of corporate officers who may themselves be subject to sanctions for non-compliance. A corporation or limited liability company cannot file a Chapter 13. Chapter 13 bankruptcies are reserved for individuals. For further clarification about Chapter 7 and Chapter 13 as they relate to bankruptcy, please feel free to contact us and one of our bankruptcy lawyers in Miami will be happy to help you.
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