(S.D. Ind. Aug. 10, 2015)
The district court affirms the bankruptcy court’s order granting the trustee’s motion for summary judgment and finding that the debtor’s voting rights in the non-debtor Indiana limited liability company were property of the estate. The other members of the LLC argued that the debtor did not hold an interest that could be property of the estate, because his voting rights derived from his role as manager rather than a membership interest in the LLC. Applying Indiana law and interpreting the language of the operating agreement, the court disagrees and affirms. Opinion below.
Author: Matt Lindblom