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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.

8 minute read December 01, 2024 at 01:03 AM
By
Lawrence J. Kotler and Drew S. McGehrin
Can A LLC President File for Bankruptcy Over Objections of Debtor’s Other Members?

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.

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