Hello All,
What your doing here in sharing information is great! Keep up the good work. My question. Plan to file chapter 7 in next 30 days. We have an LLC that has a share of Land investement that is involved in another larger LLC. I know it's not exempt and we plan to include it on our schedules. But anybody have any idea what the trustee is going to have us do with this as far as trying to liquidate it? We cannot easily liquidate or we would have. To me it seems like it will be a lot of hassel for the Trustee to do it, but from it sounds like it depends on the mood of your Trustee at the time and a good chance they will hold up the whole process trying to get even a $1 out of this LLC.
Any iput or experiences would be helpful..
What your doing here in sharing information is great! Keep up the good work. My question. Plan to file chapter 7 in next 30 days. We have an LLC that has a share of Land investement that is involved in another larger LLC. I know it's not exempt and we plan to include it on our schedules. But anybody have any idea what the trustee is going to have us do with this as far as trying to liquidate it? We cannot easily liquidate or we would have. To me it seems like it will be a lot of hassel for the Trustee to do it, but from it sounds like it depends on the mood of your Trustee at the time and a good chance they will hold up the whole process trying to get even a $1 out of this LLC.
Any iput or experiences would be helpful..