Rushford, MN asked in Business Law for Minnesota

Q: Our bank insisted on selling our co for us and things went south, what should we do?

After insisting on selling our company the bank made us sign a voluntart surrender of our assets and failed to do the proper paperwork. They allowed the future buyer to come inside our company and use our equipment, many items disappeared over time. After taking what they wanted they told the bank to take a hike. The bank is now suing us for the loan amount. What legal recourse do we have?

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1 Lawyer Answer
Robert Douglas Kane Jr
Robert Douglas Kane Jr
  • Orange, CA
  • Licensed in Minnesota

A: I apologize, but it is impossible to answer this question without further information. You state that the bank "insisted" that you sell, but "made" you sign a voluntary surrender. You should properly defend yourself, and probably file counter claims against the bank. Feel free to call me for a free consultation.

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