If the business is an LLC or corporation, personal bankrupty of a minority owner would have no effect whatsoever on the business or sale thereof, since the business would be a separate legal entity or person. One person's bankruptcy does not affect another person.If the business is not an LLC or corporation (e.g. is a partnership), then filing personal bankruptcy may delay the sale of the business during the automatic stay period, but would not long term prevent it from being sold--you can't use your bankruptycy to stop others (e.g. the majority owners) from disposing of their assets.