This question really should be answered by an attorney knowledgeable and the laws of Germany, as this really depends on how German law treats businesses and what type of business entity the business that went bankrupt was filed under. Considering it to be handled the same as in the US, when a business goes bankrupt it shareholders are not held personally liable for its debt. If your business in Germany was that of a corporation or limited liability company type of business entity, this should protect you from any personal liability for the company's debts. You should be able to start working and earning, as you should suffer no personal liability for the debts of a bankrupt business entity. You may want to check how the laws of Germany differ from the chapter 7 bankruptcy and Chapter 13 bankruptcy laws of the US.

I have responded to your inquiry according to the laws of Massachusetts, where I practice. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options.

Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.

Joseph F. Botelho, Esq.

BOTELHO & ASSOCIATES, LLC
Attorneys At Law

www.massachusettslawyeronline.com

126 Shove Street
Unit 202
Fall River, MA 02724

Office: 888-269-0688
Cell: 508-801-6747
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