Ch. 20: Domestic COPEs and Series LLCs
Ch. 20: Domestic COPEs and Series LLCs
The Charging Order in Anglo-American Law
Synopsis: Background of charging orders.
Definition: Charging Order -- An order issued by a court to a judgment creditor which essentially compels an entity of which the debtor is a partner or member to direct to the creditor until the judgment is satisfied any distributions that would otherwise have been made to the debtor.
Single-Member LLCs and Charging Orders
Synopsis: Discusses the problem of charging order protection in the single-member LLC context.
Foreclosure
Synopsis: Discusses the possibility and ramifications of a creditor successfully persuading a court to convert the charging order into a foreclosure of the interest, so that the creditor has fully the partnership or membership rights of the debtor.
Fraudulent Transfer Issues and LLCs
Synopsis: Discusses the fraudulent transfer laws in relation to the capitalization of an LLC.
Special Considerations for LLC and Partnership Interests in Bankruptcy
Synopsis: Overview of what happens to partnerships and LLCs when the entity files for bankruptcy.
The Delaware Series LLC
Synopsis: Discusses the basics and operations of the Delaware Series LLC.
Definition: Series LLC (a/k/a "Cell LLC") -- A form of LLC allowed by the statutes of only a few jurisdictions (most popularly Delaware) that allow membership interests to be divided into categories or "cells" with liability for particular actions of the LLC theoretically limited to the capital contributed to the particular series in which the operations of the LLC occurred.
The Charging Order in Anglo-American Law
Synopsis: Background of charging orders.
Definition: Charging Order -- An order issued by a court to a judgment creditor which essentially compels an entity of which the debtor is a partner or member to direct to the creditor until the judgment is satisfied any distributions that would otherwise have been made to the debtor.
Single-Member LLCs and Charging Orders
Synopsis: Discusses the problem of charging order protection in the single-member LLC context.
Foreclosure
Synopsis: Discusses the possibility and ramifications of a creditor successfully persuading a court to convert the charging order into a foreclosure of the interest, so that the creditor has fully the partnership or membership rights of the debtor.
Fraudulent Transfer Issues and LLCs
Synopsis: Discusses the fraudulent transfer laws in relation to the capitalization of an LLC.
Special Considerations for LLC and Partnership Interests in Bankruptcy
Synopsis: Overview of what happens to partnerships and LLCs when the entity files for bankruptcy.
The Delaware Series LLC
Synopsis: Discusses the basics and operations of the Delaware Series LLC.
Definition: Series LLC (a/k/a "Cell LLC") -- A form of LLC allowed by the statutes of only a few jurisdictions (most popularly Delaware) that allow membership interests to be divided into categories or "cells" with liability for particular actions of the LLC theoretically limited to the capital contributed to the particular series in which the operations of the LLC occurred.
Labels: asset protection, cell llc, charging order, series llc
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