- 893
- 834
- Joined
- Sep 3, 2007
We know he voluntarily opted to dissolve the LLC, but what triggered this voluntary action is up in the air. The petition to dissolve the LLC mentions creditors and third parties. If I am interpreting this correctly, creditors are parties that the company borrowed money from eg banks, and third parties are customers/us. So my guess would be maybe one of those creditors wanted their debt paid in full and he couldn't cover anymore with rising interest rates.I still don’t quite understand what lead to his downfall.
He was taking too many bulk orders and overextended himself?
Infrastructure couldn’t keep up with demand?
…why didn’t he just scale back?
It'll be interesting to see what happens after the receiver has completely liquidated whatever assets the business has left. It doesn't sound like the receiver is fulfilling anymore orders as folks in here have had their shipping labels canceled. It sounds like the receiver is selling everything to pay off creditors first. So we'll find out soon enough:
- Who the creditors are that the LLC owes money to
- Can and will creditors sue Zadeh?
- Us customers will get the short end of the stick, last claims to any of the company's assets