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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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If a judgement creditor in Utah obtains a charging order to

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If a judgement creditor in Utah obtains a charging order to receive the benefits of a LLC member's distribution from a multi-member LLC, does a BK filing stop the charging order so that other creditors can share in the potential distribution?

Customer:

Hi - my name is XXXXX XXXXX I'm a Bankruptcy attorney here to assist you.

Customer:

Are you asking about a Chapter 7 or a Chapter 13 Bankruptcy?

cfortunato and 2 other Bankruptcy Law Specialists are ready to help you

Hi - my name is XXXXX XXXXX I'm a Bankruptcy attorney here to assist you.

 

Are you asking about a Chapter 7 or a Chapter 13 Bankruptcy?

Customer: replied 4 years ago.

I'm taking about a personal Chapter 11.

Thank you for your response.

If you file a personal Chapter 11, the charging order for your LLC will be stayed, and your distribution will instead be used to determine your disposable income - to be distributed to all creditors instead.

I think this is what you wanted to know. If not, please let me know. Thank you.