In theory, a start-up entrepreneur with a decent shareholder agreement can fight for a company's rights and the honoring of commitments made by investors in court. But in reality, given cash flow crunches and an entrepreneur's desire to maintain good Karma among close-knit investor circles, equity investors can force a start-up into bankruptcy.
Recievership is bankruptcy.
Bankruptcy is normally voluntary, however if your creditors feel it is required for them to get paid and you refuse, they can force it - an involuntary bankruptcy.
Probably yes.
They can't force you into bankruptcy, that is a choice you have to make based on your ability to pay your debtors. When a car is repossessed it is sold and you have to pay the difference between what you owe and the cars sale price.
If the lender agrees, of course you can remodify, but you cannot force the lender to modify the terms.
You need to contact the trustee in bankruptcy. The bankrupt hasn't "given up their interest" unless they have already executed a deed. Their interest may be subject to the bankruptcy proceeding.
No
No, discharged debt is considered a forgiveness of debt and not a bankruptcy. Bankruptcy can only happen as a result of bankruptcy court procedure. Certain loans can be discharged due to hardship or disability, especially if there is an insurance policy in force to cover such a situation. When a loan is forgiven due to hardship or disability, the debtor's credit rating is usually not affected.
If the value of the assets greatly exceed the allowable exemptions, then yes they can be seized.
In a typical bankruptcy you are allowed to declare certain assets to be excempt from the bankruptcy. Typically you will be allowed to keep your house (though you may be forced to downsize), a car (again,you may be force you to downsize), and up to a certain limit of other assetts that can be declared except. The details for exemptions can be given to you by <a href="http://www.bolinskelaw.com/">Minneapolis bankruptcy attorneys</a>.
Bankruptcy laws vary by country, but generally, bankruptcy does not automatically result in the loss of home ownership. In many cases, individuals filing for bankruptcy can keep their primary residence through exemptions or by reaffirming the mortgage debt. However, this may depend on various factors, such as the equity in the property and the specific bankruptcy laws in place.
No exactly. If you inherit any money within 180 days after you filed the bankruptcy, it will become property the estate. The creditors cannot go fater it, but the trustee can force you to turn over the inherited assets. See section 545 of the bankruptcy code.