Hi, My stepfather is going to be made bankrupt very soon, he runs a pub. I use the kitchen to run my business which is a meals on wheels service. Can I buy his kitchen assets? As I need the kitchen to continue running my business. I also rent the flat above the pub, will I have to move, and our my assets in my flat safe? Your help would be greatly appreciated.
Your personal assets are fine. Not sure about the other stuff though. Who actually owns the premises and who do you pay rent to?
I would have a chat with an expert. Cluck on the expert link on the left hand side of the page and you will find contact details on there. The advice is free
As niobe says what the rent/lease situation, is it all on one title, or seperate titles, does your stepfather own the premisis or lease it.
The kitchen utensils will be assets in the bankruptcy (in which case they canbe bought from the trustee) or possibly may be taken by the leaseholder if he is behind on rent
Hi,My stepfather is going to be made bankrupt. Can I buy kitchen assets ? Will I have to move ?
Posted - 11 September 2012 : 14:27:34
