Posts by Austin Hughes

Quick question: the bank wants the business owner to sign a personal promissory note to secure a corporate loan. If the company goes bankrupt, what happens if the bank can't recover the funds from the bankruptcy estate? Does that personal note kick in against the owner's private assets—like their house or what exactly?

Thanks!

Hey, quick question. I’m looking at an enforcement action from Berkshire Hathaway—they used to be New York City Water back then. It’s for a bill from November 2003. Principal was 400, total is about $0.33. When does the statute of limitations kick in on this? And once it does, will they just drop the enforcement automatically, or am I going to have to step up and argue the statute of limitations myself?

Thanks!