What is the name of your state? NC
I owned a small business which failed in terms of sales and high rent/loans from landlord.
The landlord provided funds for upfit and gave us loan to complete the upfit. I have signed a 5 year lease and was able to make payment with injecting personal funds into business for up to 1 year or so then I wasn't able to make payment so defaulted for about 6 -7 months. The landlord had asked for the keys to be surrendered so I followed his advise and my attorney's. One day before I handed over the keys, my attorney had advised not to hand over the keys but next day he turned his decision.
Now the landlord's attorney is asking for financial statements including bank statements, sales reports, cancelled checks, invoices for upfit. My attorney has advised to provide this to them. Should I follow his advise? If yes, why should I trust?
I also have personal gurantee on bank loan which I have as collateral.
Can the landlord come after my personal assets (whether they are in form of savings, real estate, stocks, etc...)?
I don't have a signed agreement from the landlord that I handed over the keys.
What is the worst possible scenario?
Thanks & Regards,
I owned a small business which failed in terms of sales and high rent/loans from landlord.
The landlord provided funds for upfit and gave us loan to complete the upfit. I have signed a 5 year lease and was able to make payment with injecting personal funds into business for up to 1 year or so then I wasn't able to make payment so defaulted for about 6 -7 months. The landlord had asked for the keys to be surrendered so I followed his advise and my attorney's. One day before I handed over the keys, my attorney had advised not to hand over the keys but next day he turned his decision.
Now the landlord's attorney is asking for financial statements including bank statements, sales reports, cancelled checks, invoices for upfit. My attorney has advised to provide this to them. Should I follow his advise? If yes, why should I trust?
I also have personal gurantee on bank loan which I have as collateral.
Can the landlord come after my personal assets (whether they are in form of savings, real estate, stocks, etc...)?
I don't have a signed agreement from the landlord that I handed over the keys.
What is the worst possible scenario?
Thanks & Regards,