I have an interesting situation. I’m a customer of a US corporation through its wholly-owned LLC subsidiary (one of several). The entire corporation (including the subsidiarys) shut down operations and the parent corporation filed chapter 7 bankruptcy a few weeks ago. However, the subsidiary LLCs have not (yet) filed bankruptcy.
I am a small creditor of the subsidiary and I personally don’t expect to see any money in any case but I’m just trying to understand how this works. I know there are many creditors of the LLCs who are left hanging. The LLCs seem to have just disappeared. The US trustee for the parent corporation bankruptcy has announced that we are not creditors in that case.
Can anyone provide any insight into how this works or any speculation as to what will happen?