Authority to File for Bankruptcy on Behalf of an LLC?
Peter Mahler, in his blog New York Business Divorce, recently posted a quite interesting piece addressing the question of who, within any particular LLC, has authority to on its behalf file for bankruptcy protection. In that posting, he reviewed primarily the decision rendered in Catalyst Lifestyles Sport Resort, LLC v. Sheppard, a decision from the Northern District of Indiana. In the course of that decision, there was reviewed and contrasted the decision rendered in In Re Mid-South Business Associates, LLC, a decision from the Northern District of Mississippi.
That blog posting is titled Who Gets to Play the Bankruptcy Card Under Your LLC Agreement? HERE IS A LINK to that posting.
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