Worst case scenario, you liquidate these assets, declare ACME LLC bankrupt, and everyone goes on their merry way. 

What happens to me if they go bankrupt?

Utahns are always going bankrupt because the majority religion tells them to pay 10% of net to the church and have 6 kids. 

Just my 2-cents worth here from a guy that has been eating negative cash-flow for about 5 years now and who knows another guy who just about went bankrupt with his MF purchase.  

Just kidding.. it's when someone is underwater on their mortgage(s) on the property, and they need to sell it by having the bank take a hearcut on the amount of money that is owed to them vs going bankrupt. 

I don't think they did that on my loan, but it didn't matter, they became insolvent, went bankrupt and I can imagine a few were sent to jail. 

This is especially true for the big ones that are bankrupting our country with the help of a complicit government.

I have said it before I will say it again with out BP I would probably be bankrupt or in jail haha. 

Everything else in this business is easy, but couple of marginal deals can easily get you bankrupt.

The bankruptcy court can invalidate a lease, however, if they do the bankrupt no longer has a lease nor a right to the premises.