WHO MAY FILE FOR BANKRUPTCY: AN LLC’S MEMBERS OR MANAGERS?

July 11, 2019

The post under the link below addresses the issue of which LLC members or managers may validly file a petition for their LLC’s bankruptcy.  The broad lesson of the post is that LLC lawyers should make sure, in each operating agreement they draft for a multi-member LLC, that this issue is clearly resolved in the agreement.

Here’s the link:  https://www.nybusinessdivorce.com/2019/06/articles/llcs/who-gets-to-play-the-bankruptcy-card-under-your-llc-agreement/

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