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Your goal is to produce as much cashflow as possible. When you made a personal investment to ensure your company's continuance, your spouse are going to be happy to get the family's assets back. When you present to the board (or with each director separately in your premeetings), describe briefly the info gathering program, your findings and your analysis. This will likely be a difficult bull session especially if your family doesn't generally converse openly with one another. There are two types of llc bankruptcy filings, Chapter eleven and Chapter seven. You need good legal suggestion and the understanding of how to proceed. You will be able to do this yourself, or you can have professional debt arbitrator do this for you.