(Bankr. S.D. Ind. Dec. 18, 2014)
The bankruptcy court grants the trustee’s request for an order holding that the Indiana limited liability company and its members violated the automatic stay when they executed a resolution terminating the debtor’s voting rights post-petition. The debtor was the manager of the LLC and had control of the LLC’s business and affairs as of the petition date. After the petition was filed, the other members of the LLC executed the resolution and appointed a new manager without court approval. The court analyzes the terms of the operating agreement and Indiana LLC law and determines that the debtor’s interest in the LLC became property of the estate and the act to terminate his voting rights was a violation of the automatic stay. Opinion below.
Kentuckiana Bankruptcy Opinions 