Q: What is the risk of filing Chapter 7 as a single owner LLC?
Are you speaking of the risk to you, or to the LLC? Are you filing personally or filing the LLC? or Both? or seeking joint administration.
I would suggest that you visit a good BRKTY lawyer to get specific answers to your particular questions.
A: In Kentucky since you own the LLC solely it is solely your asset. A Trustee may be able to sell assets of the LLC. If the LLC had other members this is generally not possible for the Trustee.
A: The LLC is an asset that belongs to you and the trustee can sell it if it has any other value.
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