Bland Richter successfully tried a contested matter in the United States Bankruptcy Court involving the value and ownership rights of a membership interest in a South Carolina limited liability company. A member of an LLC client had filed for personal bankruptcy protection, thus making his membership interest in the LLC an asset of the bankrupt estate. The business itself was an ongoing concern which generated significant revenue. The bankruptcy trustee took the position that the estate was not forced to sell the membership interest, and/or if required to sell, that the interest was worth not less than $202,000.00. Bland Richter was successful in convincing the Court to force the sale of the membership interest, and in offering the sale, to make the offer first to the LLC itself at a value of $105,000.00. The action threatened the viability of the LLC. The result allowed the LLC to continue as a viable going concern. ( Fall, 2015 )