For Bankruptcy purposes, limited liability companies ("LLC's") are not treated as limited partnerships, but as corporations. Even a single member LLC is treated differently from an "individual" in Bankruptcy. The Bankruptcy of a member of a LLC call have a sever impact on the LLC itself. This Article is from a program recently given by Ken Samuelson, and deals with (a) some of the unique aspects of LLCs under Bankruptcy law; and (b) issues that frequently arise in Bankruptcies of LLCs, even if not unique to LLCs.
Welcome to my blog. I use it primarily to publish my materials from programs I present before the American Bar Association, the American College of Real Estate Lawyers, the American Inns of Court, the District of Columbia Bar, the Maryland State Bar Association, the Harvard Business School Club of Washington, D.C., and other organizations. I would love to receive any questions, comments, criticisms and suggestions you may have on any of these topics. Please check my law firm’s website, at www.samuelson-law.com, and contact me.
- All articles contained in this Blog are only as of their respective dates. None of them has been updated since then. The reader is urged to supplement all of those materials.
- Particular facts and circumstances, and changes of law or fact, may affect the statements in the articles in this Blog.