is there a way na di ako habulin ng mga old suppliers re: sa past dues?

[alwayz_yummy]

un ang naging problema ko eversince biglaang iiwan sa akin ng kapatid ko ang management ng family business namin....madami siyang iniwang past dues na wala sa tindahan ang mga resibo, a bpi checking account na closed and labeled as "mishandled".

is there a way na ma-deter/ di ako pwersahin mga collectors to pay the past dues? grabe kapatid ko..

right now i need money for replenishing the working capital, and selling my xtrail will be an open option, but buy-and-sell people offer is almost like getting my xtrail for free.. so for now i have decided to use it as collateral while i sell it off to the highest bidder...

i understand na obligations ay dapat gawin..pero ang problem, what was supposed to be a family obligation, was left alone to be my obligation simply because i am now the one handling our family business.

most suggest na palitan ko ng pangalan... from now na corporation, to single proprietor... kung may massuggest kayo please post away!

[niky]

Change of ownership, declare the old corporation defunct.... bankruptcy proceedings?

Family business is the worst kind... I feel your pain...

[tidus1203]

Yeah bankruptcy is the way to go... Kaya always go for a corporation (even for a small company just create dummy owners) kasi hangang duon lang habol nila at di na kasama mga owners.

[alwayz_yummy]

un nga... di talaga maganda family-runned business.. pagdating ng time sa mga anak ko, hayaan ko nalang sila magtayo ng sarili nilang negosyo...para di na maulit ang ganitong pangyayari...

[ab_initio]

kung corporation, no problem. the creditors' claim may only be confined with the corporation's assets. property of the officers are beyond their reach because a corporation has a juridical personality distinct from its officers. this is when dissolution comes into play.

prior to dissolution there are winding up procedures, corporate assets are sold to pay corporate debts and obligations. however, if the creditors contest the dissolution, and that it was done to evade obligations, then the doctrine of piercing the veil of corporate identity may be invoked-in this scenario, the creditors may still reach the property belonging to the officers of the corporation.

[CVT]

Nice to hear from you again, Sis.ab_initio...

What I can say?

Awesome!

13.6K:painting:

[foresterx]

Agree with change of ownership and pa labasin na you bougth all shares of your brother and he doesn't have anything to do with the business anymore. Also change the name of your company. Once you do that make sure that every one knows that your company is inder new management and had nothing to do with the old one.