Won judgment; LLC closed. How can I collect my money?

Question – I won a judgement over a limited liability business and she shut down. How do I proceed from there and will I ever see my money again?

If your judgment is only against a limited liability company which has now ceased operations, you may not be able to collect. However, if the Company now has or had any assets such as inventory or equipment at the time it ceased operations, those are still owned by the Company and its Member is now a “Trustee in Liquidation” with the statutory duty to liquidate the assets and pay creditors such as yourself. If you believe that the Company has or had assets which have not been properly liquidated, you may be able to recover against those or her individually if improperly transferred. Although it has ceased operations, a judgment creditor still has the right under Virginia law to conduct certain discovery which would allow you to better determine the collectibility of the judgment.

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