Chapter 7 bankruptcy and LLP assest

C

CDobby

New Member
Jurisdiction
Texas
How does chapter 7 bankruptcy affect an LLC business that you own regarding the business assets. If you file bankruptcy Does it affect any other LLCs that you may own and it's assets?
 
The LLCs, themselves, are assets. As such, the value of the LLCs (and your share of an LLP) is addressed by your bankruptcy as is any income you derive from them.
 

Share this page

Get a free case review from a lawyer
Back
Top