Legal Question in Business Law in California

Dissolution

We have an LLC that is in the red. We have a judgment for $20k against the LLC and both partners personally. I filed for bankruptcy with no problems. My partner does not want to file BK but, is negotiating a personal settlement with the landlord. We also have another suit pending for fraud for $2M, the plaintiff sent a 998 to settle for $2,500. We are considering dissolution but, we are unsure if we can with the judgment and pending suit. If we can, who will be protected: myself, my partner and/or the business?


Asked on 7/01/09, 1:36 pm

1 Answer from Attorneys
Cathy Cowin Law Offices of Cathy Cowin

Re: Dissolution

As a child I had a book called "Easy Answers To Hard Questions" and this posted question reminded me of it. You've posted a simple question regarding a complicated situation. I am hoping for you that there is a way to negotiate the judgment and defend the pending lawsuit. You would be well advised to have an attorney evaluating those options rather than answering the simple posted question. Wishing you happy endings.

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Answered on 7/01/09, 3:33 pm


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