Central District Consumer Bankruptcy Attorney's Association

No harm this time but you're quoting repealed law. The new law went into
effect Jan 1, 2014.
New version of 17156 is 17704.07(c)(3).

The post was migrated from Yahoo.

if you file when the parties who have hired you do not have authority to hire you, or to file, you will be sanctioned for all of the fees, and maybe all of the damages, you have done to the LLC by filing. Be very carefull.
d
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Aug 5, 2014, at 9:51 PM, "Michael Avanesian michael@avanesianlaw.com [cdcbaa]" wrote:
>
> I would say the operating agreement and/or articles of organization control unless against public policy. I'd also go as far as saying that if a managing member has the power to dissolve the LLC, he should also be allowed to have the LLC file for bk. I am not very confident with my answer.
>
> If there are some debatable issues, or if you're not sure, I highly recommend that you have a business lawyer take a look and give you the answer. If you're anticipating a challenge to the authority of the member to file for bk, you're going to need his expert opinion anyway.
>
> Sincerely,
> Michael Avanesian
>
>> On Mon, Aug 4, 2014 at 12:09 PM, 'arsen.pogosov@hotmail.com' arsen.pogosov@hotmail.com [cdcbaa] wrote:
>>
>> Can one partner (member) of an LLC decide to file bankruptcy, or do both partners have to agree for the LLC to file bankruptcy?
>>
>> Arsen Pogosov
>>
>> Connected by DROID on Verizon Wireless
>
>

The post was migrated from Yahoo.

Reply-To: "arsen.pogosov@hotmail.com"
X-Original-Return-Path: "arsen.pogosov@hotmail.com"
To: cdcbaa@yahoogroups.com
X-Yahoo-Newman-Id: groups-system
CA Corporations Code s 17156 says that a majority vote of the LLC managers
is required.
Not good.
Connected by DROID on Verizon Wireless

The post was migrated from Yahoo.

Reply-To: "Desiree Causey"
X-Original-Return-Path: "Desiree Causey"
To: cdcbaa@yahoogroups.com
X-Yahoo-Newman-Id: groups-system
In my previous life as a commercial lending attorney we required those led them Special Purpose Entities or SPEs and a reading of the operating agreements will flesh that out. There are provisions in the operating agreement that require that the LLC hold only the commercial real estate that the lender was financing. Additionally, if the lender was feeling especially draconian, they would require an Independent Director, approved by the lender, for the LLC and the LLC could not file for BK without the approval of the lenders independent director. We also backed up those loans with significant personal guarantees from the principles for bad boy provisions, which sometime include the BK of the LLC.
I advise that you read the operating agreement, get copies of their annual filings with the secretary of state. Not all LLCs are created equal.
Desiree Causey, Esq.
Law Office of Desiree Causey
17011 Beach Blvd., Suite 900
Huntington Beach, CA 92647
causeylaw@gmail.com
714-375-6663
714-908-7646 (fax)
Privileged And Confidential Communication.
This electronic transmission, and any documents attached hereto, (a) are protected by the Electronic Communications Privacy Act (18 USC 2510-2521), (b) may contain confidential and/or legally privileged information, and (c) are for the sole use of the intended recipient named above. If you have received this electronic message in error, please notify the sender and delete the electronic message. Any disclosure, copying, distribution, or use of the contents of the information received in error is strictly prohibited.
Please consider the environment before printing this e-mail.

The post was migrated from Yahoo.

I have this issue right now. I have one that wants to go on doing business
and one that wants out. IF they file BK the one that wants out will be
exposed for mismanagement and embezzlement and risks a Chapter 7 trustee
running after her for emptying the LLC's bank accounts and not paying
bills. The real risk is a Chapter 7 Trustee going after the individuals if
they took money and shouldn't have taken. That kind of scrutiny is rarely
worth filing a BK for an LLC that will not get a discharge anyway.
If you have any questions or should you need any additional assistance, I
am here to help. Have a fantastic day!
R. Grace Rodriguez, Esq.
OFF: (818) 734-7223
CEL: (818) 554-9922
I have this issue right now. I have one that wants to go on doing business and one that wants out. IF they file BK the one that wants out will be exposed for mismanagement and embezzlement and risks a Chapter 7 trustee running after her for emptying the LLC's bank accounts and not paying bills. The real risk is a Chapter 7 Trustee going after the individuals if they took money and shouldn't have taken. l not get a discharge anyway.

The post was migrated from Yahoo.

I would say the operating agreement and/or articles of organization control
unless against public policy. I'd also go as far as saying that if a
managing member has the power to dissolve the LLC, he should also be
allowed to have the LLC file for bk. I am not very confident with my
answer.
If there are some debatable issues, or if you're not sure, I highly
recommend that you have a business lawyer take a look and give you the
answer. If you're anticipating a challenge to the authority of the member
to file for bk, you're going to need his expert opinion anyway.
Sincerely,
Michael Avanesian
On Mon, Aug 4, 2014 at 12:09 PM, 'arsen.pogosov@hotmail.com'
arsen.pogosov@hotmail.com [cdcbaa] wrote:
>
>
> Can one partner (member) of an LLC decide to file bankruptcy, or do both
> partners have to agree for the LLC to file bankruptcy?
>
> Arsen Pogosov
>
> *Connected by DROID on Verizon Wireless*
>
>
>
I would say the operating agreement and/or articles of organization control unless against public policy. I'd also go as far as saying that if a managing member has the power to dissolve the LLC, he should also be allowed to have the LLC file for bk. I am not very confident with my answer.
If there are some debatable issues, or if you're not sure, I highly recommend that you have a business lawyer take a look and give you the answer. If you're anticipating a challenge to the authority of the member to file for bk, you're going to need his expert opinion anyway.
Sincerely, Michael AvanesianOn Mon, Aug 4, 2014 at 12:09 PM, 'arsen.pogosov@hotmail.com' arsen.pogosov@hotmail.com [cdcbaa] <cdcbaa@yahoogroups.com> wrote:
Can one partner (member) of an LLC decide to file bankruptcy, or do both partners have to agree for the LLC to file bankruptcy?Arsen Pogosov
Connected by DROID on Verizon Wireless

The post was migrated from Yahoo.

Manager can do it unless operating agreement is contrary. One member may be able to file involuntary like a partnership. Need research.
Jason
Sent from my iPhone
> On Aug 4, 2014, at 12:09 PM, "'arsen.pogosov@hotmail.com' arsen.pogosov@hotmail.com [cdcbaa]" wrote:
>
> Can one partner (member) of an LLC decide to file bankruptcy, or do both partners have to agree for the LLC to file bankruptcy?
>
> Arsen Pogosov
>
> Connected by DROID on Verizon Wireless
>

The post was migrated from Yahoo.

Reply-To: "arsen.pogosov@hotmail.com"
X-Original-Return-Path: "arsen.pogosov@hotmail.com"
To: cdcbaa@yahoogroups.com
X-Yahoo-Newman-Id: groups-system
Can one partner (member) of an LLC decide to file bankruptcy, or do both
partners have to agree for the LLC to file bankruptcy?
Arsen Pogosov
Connected by DROID on Verizon Wireless

The post was migrated from Yahoo.