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In re Promedicus Health Group, LLP

United States Bankruptcy Court for the Western District of New York
416 B.R. 389 (2009)

Written by Robert Cane, JD

Facts

Promedicus Health Group, LLP (Promedicus) (debtor) was a New York registered limited-liability partnership that filed for bankruptcy. Creditors sought to recover from several partners of Promedicus. The partners argued that they were general partners and that their personal assets should be counted as part of the determination of insolvency. However, the partners also argued that their personal assets should be shielded from liability because they were partners of a registered limited-liability partnership. The parties went before the United States Bankruptcy Court for the Western District of New York.

Rule of Law

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Issue

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Holding and Reasoning (Kaplan, J.)

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