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Can a c corporation file for bankruptcy and the owners protect their personal assets even if they signed personal guarantees with some banks?
Wiki User
∙ 11y ago
No, the owners assets WOULD still be subject to seizure from creditors for all debts that were PERSONALLY guaranteed. The only way to protect personal assets would be for the owners themselves to file personal BK.
Wiki User
∙ 13y ago
Wiki User
∙ 11y agoOf course they can't, it's a personal guarantee.
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