BK and the solo LLC (again)

[goingcrzy]

Has anyone kept their LLC running after their BK. I did a chap7 and I am still running my LLC.

The LLC paperwork states that it will be dissolved if the owner (me) files for BK UNLESS it is voted on to not dissolve.

What are the ramifications if you run a LLC that was dissolved in BK? I am still not understanding how this works.

[frogger]

It the LLC was dissolved in bk, then it is dissolved and no longer exists. If you continue to run a corporation that does not exist, then it could be considered fraud.

[HHM]

There are few things going on.

It sounds like the "operating" agreement of the LLC states that the LLC will dissolve if the owner files BK. That is an issue internal to the LLC. Has nothing to do with the BK itself.

It is "possible" to keep the LLC running after a BK. The issue will be the BK trustee in your personal Bk. If the LLC has any non-exempt assets, the trustee may take and sell those.