Does a LLC owned by a holding company have to file a separate Bankruptcy petition if the holding company files? All companies are out of business.

I assume you're talking about a Chapter 7 filing.  Chapter 7 is almost never necessary for a corporation to file since corporations do not receive discharges of debts in a Chapter 7.  But to answer your question more directly, the Trustee in the holding company bankruptcy would have access to the LLC's assets (assuming the holding company owns 100% of the LLC) and can liquidate them for the benefit of creditors, but would have to pay the LLC's creditors first from that pool of funds before paying to the holding company's creditors. Mark J. Markus, Attorney at LawCertified Bankruptcy Law Specialist--State Bar of CaliforniaHandling exclusively bankruptcy law cases in California since 1991.http://www.bklaw.com/bankruptcy blog: http://www.bklaw.com/bankruptcy-blog/Follow Me on Twitter:  @bklawr