Legal Question in Business Law in Delaware

Dissolution of a Delaware LLC

How do I dissolve my Delaware LLC? I have loaned the LLC a

lot of money - my partner has loaned the LLC nothing so our

capital accounts are not equal. And, there are more liabilities than

assets plus the members (2 of us) are hostile.


Asked on 5/07/03, 1:18 am

2 Answers from Attorneys
Bruce W. McCullough Bodell, Bove', Grace & Van Horn. P.C.

Re: Dissolution of a Delaware LLC

You would file a Certificate of Cancellation. The filing fee is $50, plus the attorney's fee. The paperwork is not an overly complicated process. Dealing with the relationship between the principals and the disproportionate investment is another matter.

Please feel free to contact me if I may be of assistance.

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Answered on 5/14/03, 2:27 pm
Gerd Zimmermann zimmermann nielsen & colleagues

Re: Dissolution of a Delaware LLC

Do you have an operating agreement which should spell out when and how a dissoultion is possible. If you do not have an operating agreement you may use the DE coporate law as described

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Answered on 5/07/03, 3:47 am


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