Capital Investor Gone Bankrupt
Question Details:Our investor/partner has a 34% stake in our company and is currently under Chapter 11 Bankruptcy. The LLC docs spell out pretty specific instructions on a member/owner going bankrupt(although the procedure has not been followed). Our attorney was their attorney as well. So now we do not have one. We are currently scrambling to find capital; the one recurring question is what is happening with the 34%? I guess my question is do we need a bankruptcy attorney or a corporate attorney or both?
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