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A bankruptcy trustee is powerless to go after money allegedly stolen from a limited liability corporation in which a debtor was a member, a Northern District of New York bankruptcy judge has said in a recommendation to the district court. Chief Bankruptcy Judge Stephen D. Gerling suggested that property of an LLC does not become property of a bankruptcy estate when one partner allegedly steals assets.
December 14, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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