By Lawrence J. Kotler and Drew S. McGehrin
Through a unilateral bankruptcy filing, a president and manager of a limited liability company sought to utilize the Chapter 11 process and sell a debtor’s business as a going concern over the objection of the debtor’s other members.
Can A LLC President File for Bankruptcy Over Objections of Debtor’s Other Members?
Through a unilateral bankruptcy filing, a president and manager of a limited liability company sought to utilize the Chapter 11 process and sell a debtor’s business as a going concern over the objection of the debtor’s other members. In this case, the issue was whether the president was authorized to do so.
By
Lawrence J. Kotler and Drew S. McGehrin
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