Chapter 7 bankruptcy is rarely a good option for partnerships. ... >$50k. --Select
an answer--, $5k-10k, $10k-20k, $20k-50k, >$50k. What is ... The trustee then
distributes the cash proceeds to creditors. In most ... In fact, filing for bankruptcy
may make it more likely that general partners will be sued to cover partnership
Learn about Chapter 7 bankruptcy for partnerships and how it may affect you as a
partner. ... --Select an answer--, $5k-10k, $10k-20k, $20k-50k, >$50k .... are
called general partners and they are all personally liable for the partnership's
debts. ... When a Chapter 7 is filed, a bankruptcy trustee is appointed and
charged with ...
(4) "Other partnership provisions" means the provisions of Chapters 151 and 154
... (5) vary the power to withdraw as a partner under Section 152.501(b)(1), (7), or
(8), .... (c) Property acquired in the name of one or more partners is presumed to
be the ... as partner, is not a trustee and is not held to the standards of a tr...