I want to close our LLC but she doesn't want to. What should I do?

Asked about 2 years ago - San Diego, CA

My partner and I have LLC but have so much debt and I want to file bankruptcy to get out of this situation. But she is not giving me any information about how much we owe to our vendors or any lease information. She took all of the information with her and I have no way to find them. I don't remember if I signed the lease as personally liable for it or not. How can I file bankruptcy without all the info. She doesn't talk to me anymore, she doesn't want to give me any information because she doesn't want to close company. We have no assets. Please help.

Attorney answers (3)

  1. Douglas Gist Farquhar

    Contributor Level 11

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    Answered . Do you have any info. related to the debts of the company? You probably are personally liable for those debts. Most vendors and landlords require a personal guarantee. A bankrupcy would get you personally off the hook for those debts. The creditors, including the landlord, would then have to look to your partner or the assets of the LLC itself for payment. But this would not be bad for you if you want to close the LLC anyway.

    If you have the creditor info. then they can all be listed and notified in your personal bankruptcy. You need an attorney to look at this one though as there are many issues here especially if your partner is determined not to cooperate with you and you truly don't know who your creditors are. There are ways to compel her to provide the info.

    Douglas G. Farquhar, Esq., San Diego bankruptcy attorney. (619) 702-5015, E-mail: farquharesq@yahoo.com.

  2. Adam Durrel Woolsey

    Contributor Level 8

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    Answered . If she won't communicate with you to tell you the creditors or status then you will likely need an attorney. A few general thoughts to consider, if she is willing to even communicate.

    Would she accept your resignation and assume liability, risk and reward? Would joint creditor's release your liability (assuming she discloses all of them)? Perhaps a simple letter from counsel requesting information may work. If not, a writ of mandumus may be appropriate.

    Do you want accurate, personalized, legal advice that you can rely on? You will have to hire an attorney, not ask... more
  3. David R Mahdavi

    Contributor Level 6

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    Answered . Your state laws probably give you the right to demand copies of corporate documents as a member of the LLC. make the demand under your states LLC statutes and file a Writ of mandamus to get her to comply if she refuses.

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