Search for: "FAIR COMPANIES, LLC"
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23 Jun 2010, 6:00 am
Unless the members of an LLC intend for this provision of the LLC Act to apply, they should make sure that in drafting their Operating Agreement, a specific provision is included which expressly provides that no member has a right to resign and be paid the fair value of his or her limited liability company interest. [read post]
2 Jul 2014, 3:19 pm
Today, MALDEF filed suit in federal court in the Eastern District of Michigan against Systems USA Inc. and Systems USA Consulting LLC for violating the Racketeering Influenced and Corrupt Organizations Act (RICO), the Trafficking Victims Protection Act (TVPA), the Fair... [read post]
4 May 2021, 4:45 am
In 509 it provides, upon withdrawal as a member of the limited liability company, …….., if not otherwise provided in the operating agreement, he or she is entitled to receive, within a reasonable time after withdrawal, the fair value of his or her membership interest in the limited liability company as of the date of withdrawal based upon his or her right to share in distributions from the limited liability company. [read post]
13 Aug 2012, 4:01 pm
The Tennessee Revised Limited Liability Company Act also has a provision which requires a member in a Tennessee member-managed LLC to discharge his or her duties to the LLC and to other members consistent with the obligation of good faith and fair dealing. [read post]
15 Jun 2023, 6:06 am
Vacarella sued Jeanne alleging that she tortiously interfered with the company’s prospective economic advantage, that she breached a contract and that she breached the implied covenant of good faith and fair dealing inherent in the Operating Agreement. [read post]
6 Jul 2012, 10:48 am
This is tested by doing a hypothetical liquidation analysis in which it is assumed that the LLC’s assets are sold at their fair market values immediately after the date of grant and the proceeds are then immediately distributed to the LLC members in accordance with the liquidation provisions of the LLC’s operating agreement. [read post]
6 Mar 2008, 12:24 pm
Credit Suisse Securities (USA) LLC, __ F.3d __ (7th Cir. 2008) ("HA2003"), HALO, an acquiring company, hired CSFB, an investment banker, to (i) renegotiate the economic terms of a stock acquisition of the dot-com target company, Starbelly.com, and (ii) issue a fairness opinion on behalf of HALO in connection with the acquisition. [read post]
6 Mar 2008, 12:24 pm
Credit Suisse Securities (USA) LLC, __ F.3d __ (7th Cir. 2008) ("HA2003"), HALO, an acquiring company, hired CSFB, an investment banker, to (i) renegotiate the economic terms of a stock acquisition of the dot-com target company, Starbelly.com, and (ii) issue a fairness opinion on behalf of HALO in connection with the acquisition. [read post]
13 Feb 2013, 5:57 am
Previously, a member was entitled to resign and have his interest purchased by the LLC for fair market value. [read post]
14 Jun 2021, 4:32 am
He also owned a property management company. [read post]
11 Dec 2017, 3:28 am
Cartalemi did not agree that Jacobs was entitled to a fair-value buyout upon withdrawal and therefore did not consent, following which, in July 2015, Jacobs filed a third lawsuit against Cartalemi and the LLC seeking a judgment declaring his right to withdraw from the LLC under old § 606 and to be paid the fair value of his membership interest (without any discounts) under § 509. [read post]
14 Jan 2013, 7:57 am
According to the FTC’s complaint, Filiquarian Publishing LLC, Choice Level LLC, and their CEO, Joshua Linsk, designed and marketed mobile applications that enabled users to search criminal records databases. [read post]
15 Oct 2015, 11:19 am
What is important is that the share of the LLC given in consideration for the investment reflects a fair value for what is given. [read post]
30 Oct 2016, 2:43 pm
In reality, Cavalry SPV I LLC is simply an affiliate of a debt collection company founded in 2002 called Cavalry Portfolio Services located in Valhalla, New York. [read post]
21 Apr 2008, 1:52 am
Answer: True, you can form the company online, but the mere existence of the LLC offers little protection. [read post]
8 Feb 2021, 4:00 pm
. of any domestic limited liability company shall not become or continue to be a member of or hold an interest in the surviving or resulting limited liability company or other business entity but shall be entitled to receive in cash from the surviving or resulting domestic limited liability company or other business entity the fair value of his or her membership interest in the domestic limited liability company as of the close of business of the… [read post]
14 Oct 2020, 7:33 am
It is fair to say Illinois is a middle-ground between Delaware and UPSA. [read post]
15 May 2008, 12:51 am
Reading Chancery Gives Victory to "Freedom of Contract" and Refuses to "Find" Fiduciary Duties in LLC Agreement When Not Clearly Stated from Delaware Corporate and Commericial Litigation Blog gave me a reason to tout Indiana as a place for forming a limited liability company. [read post]
23 Mar 2021, 4:00 pm
Years later, the relationship had soured and P.A., who owned 25% of the company, sued. [read post]
27 May 2021, 8:26 am
They also offered to buy Tracy’s 25 percent ownership share at fair market value. [read post]
