Legal Question in Business Law in Illinois
I have a judgment against a Limited Liability Co that notified me that they have gone out of business. The judgment was placed before they went out of business. Is there a way to get the judgment satisfied?
2 Answers from Attorneys
As a franchise attorney I can only say good luck. You can try to pursue the individual LLC members, but it will be a stretch - and cost money. Perhaps you can talk to your accountant and see if you can write this off. Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Attorney
Franchise Foundations APC
Mr. Franchise has it right. You will need to determine whether the LLC conduicted itself according to its' organizational minutes and have an attorney review any documents that you have from that company before a determination can be made.
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