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Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31789
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I have an operating agreement with a llc to operate with my ...

Customer Question

I have an operating agreement with a llc to operate with my brokerage license in the state of Nevada a century 21 office, the parent llc has filed for bankruptcy protection, they own the franchise and I have paid for and operate the whole separate operation in a different location in the same city, tomorrow the trustee has recommended the sale of the company, is there any protection for me and my agents, specifically the commissions from transactions in current escrows and what about all our listings. I have and all the agents have an independent contractors agreement. Please help,CustomerOwner/Broker/Century 21 Aadvantage Gold Las Vegas Nv.
Submitted: 9 years ago.
Category: Bankruptcy Law
Expert:  Roger replied 9 years ago.

You need to find a bankruptcy attorney to file a motion for "Adequate Protection" for your operation and to sever it from the parent corporation. This will be done or your money, listings, assets, etc. could end up as part of the bankruptcy estate.

You need to get an attorney to file a motion on your behalf asap!

Customer: replied 9 years ago.
Reply to Adam Kirk's Post: I'm sorry the court awarded the sale of the company and it's assets today. I guess I waited too long to answer. I will use you in the future.
Expert:  Roger replied 9 years ago.

I'm sorry to hear that. I wish you the best.