You need a corporate resolution for the Chapter 7 filing and also a resolution appointing someone to be the corp. representative during the bankruptcy. Also, I don’t think that the corp itself is property of the individual’s trustee; rather, the shares that are owned by that individual are property of the individual’s trustee. The stock belonging to the debtor sh is an asset of the bankruptcy estate unless exempted. You have to determine value of the stock. Depending on the valuation it may be exempt. It has been my experience that the most corp hve a a negative net worth, hence there is no value to the stock. A trustee could take over the corp as sh however and liquidate the assets. Yes, you need a corporate resolution to file bankruptcy. Corporations do not get disharges. They get liquidated and the proceeds distrubuted to creditors. One of the issues in many corps is the trust fund liablity which needs to be dealt with. I’m not sure why you would want to, but assuming you do, unless the articles delegate that authority to the shareholders, it’s up to the directors to pass a resolution to file bankruptcy. The shareholder’s filing transfers the stock to the estate (subject to any exemption), and the trustee could presumably remove the directors (if the debtor is/was the sole shareholder), or could call a shareholder’s meeting to do so (if the debtor held a majority, or the other shareholder agreed), but unless and until that happens, the director(s) continue in office and can act without shareholder approval except where required by the articles or corporate law.
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