When your business partner or your spouse who own property together goes bankrupt, what can you expect to happen and what rights do you have?
The trustee in bankruptcy will usually approach you and ask your intention to buy the bankrupt’s interest in the property.
However, if you can’t or don’t want to purchase it or you can’t reach an agreement with the trustee, statutory trustee for sale can be applied to a court.
Ji Hoon Chang, a lawyer from David Chang Legal, gives you more detailed advice about the issue through this episode.
[The Full interview is available via podcast above]
Ji hoon, David Chang Legal Source: SBS
