Legal Question in Bankruptcy in District of Columbia

If an LLC files for bankruptcy can the creditors go after assests of the individual officers or stock holders?


Asked on 1/29/10, 4:10 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Only if they could anyway (personal guarantees). The bankruptcy of the LLC would not impact claims against officers/shareholders/members one way or the other. Note, though, that an LLC does not get a discharge if it files Chapter 7, so such a filing may not make sense.

Read more
Answered on 2/03/10, 6:49 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in District of Columbia