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I'm going to assume there was no bky filed by the company. What would be the point of that? That would have many potential unintended consequences and would very likely be a big mistake. (i.e., it would serve no purpose, and would suddenly put you under the jurisdiction of the Federal court, a US Trustee, a Bky trustee, disclosures, penalty of perjury, etc. etc. etc.)
So I'll assume there is no bky.
Does he have his lawyer involved? If so, he may just be doing what the lawyer told him to do. That doesn't necessarily make it legal or right, though. You need to have your lawyer VERY carefully look at what the LL has done.
It would be very sweet if the LL acted improperly. Because even though the company is now essentially an empty shell (i.e. the turnip from which no blood can be had), you still need to be worried about the PGs. Any improper actions by the LL can give rise to cross-claims and defenses that may be very useful to you down the road. You need to talk to your lawyer to explore those, and determine the best way to document them, damages, etc. And you may not want to do anything that will prevent further improper actions by the LL against the company.
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