Question
For this assignment, assume that you are the owner and president of Quality Finish, LLC, a carpentry finish company that provides high quality carpentry finish
For this assignment, assume that you are the owner and president of Quality Finish, LLC, a carpentry finish company that provides high quality carpentry finish and trim.Donald J. Jones hired Quality Finish to install new cabinets and trim in his homeas part of a kitchen remodel.The cabinets were handcrafted out of exotic wood. Donald had agreed to pay Quality Finish $75,000 for the cabinets and installation.You have invoiced Donald repeatedly, even assessing late fees, but he has failed to pay his debt to you.
Quality Finish has investigated Donald to figure out a way to collect the money owed.It has learned that Donald is underwater on his house, owning the mortgage bank more than it is worth.You have also learned that Donalddid have a lot of money in the bank but that he has been spending the money like crazy on luxury travel.You do not believe that Donald has filed for bankruptcy.But you also have heard that Donald has done this to other contractors before, but used a different name, Donny Conway.You have learned that Donald J. Jones' social security number is 111-22-3333.
In talking with the other contractors (the plumbing company and the electrical company) in the kitchen remodel, you learned they are in the same position as you in trying to collect money they are owed.The plumbing company is owed $25,000 and the electrical company is owed $6800.It has been more than 9 months since the work was performed and the kitchen is complete.No claim's have been transferred by any of these creditors.
Concerned that Donald will deplete all of his assets and never pay you, you decide to ban together with the plumbing company (Goodwrench Plumbing, Inc.,) and the electrical company (CircuitCircuit, LLC) and several other creditors and file a petition for an involuntary Chapter 7 Bankruptcy against Donald Jones.Kalinda Florick is the Vice President from Goodwrench Plumbing and Russ Clinton is the President and owner of CircuitCircuit with whom you have been working. They will sign off on the petition.(Although in real life, you would need additional creditors to sign off, for the purpose of this assignment, you need only list Quality, Goodwrench and CircuitCircuit.(
For this assignment, complete the appropriate form on behalf of your company, Quality Finish, for filing and Involuntary Petition Against an Individual for Chapter 7 Bankruptcy.Because attorneys are costly, you have decided to do this on your own.For the purposes of this assignment you should make up the required mailing addresses for the debtor and petitioners.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started