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7 Apr 2008, 6:11 pm
While some LLCs could have significant formalities built into their operating agreements, it is not clear how any such provisions could be invoked by an outside party suing the LLC. [read post]
15 Apr 2013, 3:40 am
BTB alleged that it acquired Saleh’s membership interest at the execution sale pursuant to the default judgment; that BTB “has no relationship with [Kenny] Li, and no basis for continuing the operation of 1141 Realty, and the hotel at the Premises, as a going concern”; and that BTB offered “to cooperate with [Kenny] Li with regard to the operation of 1141 Realty, and the hotel at the Premises, but that offer has been rejected. [read post]
16 Jun 2020, 3:19 pm
The post Starting a Business in Missouri: Should You Form a Corporation or Limited Liability Company (LLC)? [read post]
7 Mar 2019, 1:56 pm
Maybe you previously ignored Cach thinking they would eventually go away. [read post]
14 Feb 2011, 3:00 am
And why would they opt to allow termination of their operating agreement only so that, going forward, the applicable default rules arguably would make it harder to dissolve the company? [read post]
1 Feb 2011, 4:36 am
For example, unless the LLC operating agreement locks the issue down tight, and unless the firm is organized under the clear pro-contract principles of Delaware law, the managers of a “Packers, LLC” turn down a very lucrative bid to leave Green Bay? [read post]
26 Apr 2021, 3:19 am
At least for New York LLCs, a member can be expelled from an LLC only if expressly authorized by the operating agreement. [read post]
25 Apr 2016, 3:17 am
There is no authority that permits a non-controlling member to seek dissolution of an LLC on the ground that a disagreement over strategy exists (unless, of course, the operating agreement provides otherwise, which it does not in this case). [read post]
10 Feb 2014, 3:06 am
Although decided on a motion for interim relief, and therefore not technically dispositive of the case, as a practical matter the court’s construction of the operating agreement leaves the plaintiff with nowhere to go, other than pursuing its right to seek appellate review. [read post]
9 Nov 2020, 3:31 am
The Court Denies Lard-PT’s Summary Judgment Motion Amidst much procedural maneuvering which I won’t go into, and following Kolmar’s filing in Delaware Chancery Court of a petition to dissolve PTP, Lard-PT moved for summary judgment on its claim to enforce Kolmar’s alleged obligation to purchase its 49% membership interest for at least $7.75 million assuming Lard-PT breached Section 10.2 (d) of the LLC agreement or $13.75 million if Kolmar breached that same… [read post]
13 Oct 2021, 12:00 am
This, in addition to the discussion below, has led to LLCs becoming the ‘go-to’ business structure to form. [read post]
13 Oct 2021, 12:00 am
This, in addition to the discussion below, has led to LLCs becoming the ‘go-to’ business structure to form. [read post]
6 Jan 2016, 9:05 pm
Palm Partners, LLC v City of Oakland Park, 102 F. [read post]
16 Oct 2014, 8:25 am
Another section of the corporations code (old 17355, now replaced by 17707.1 ), states that an LLC shall be dissolved when it provides so in the operating agreement, when the members vote to dissolve, or a court issues a decree of judicial dissolution. [read post]
22 Jun 2012, 7:34 am
You define this structure (and the operating structure of the business) in the LLC’s Operating Agreement (works like the By-Laws in a traditional corporation). [read post]
14 Sep 2009, 10:42 am
A managing member, designated in the operating agreement, runs the day to day operations of the LLC, and there can be more than one managing member if desired by the members. [read post]
2 Aug 2023, 10:30 am
Operating Agreement for LLCs in Estate Planning LLCs generally have an operating agreement that sets out the rules for managing and transferring a member's interest in the LLC. [read post]
15 Mar 2012, 4:44 am
Go ahead and make the election. [read post]
19 Mar 2020, 10:35 am
The Debtors also filed the declaration of Amy Lee (the “Lee Declaration”) (Doc. 5), a senior director at Alvarez & Marsal North America, LLC (“Alvarez”), the financial advisor to the Debtors. [read post]
22 Aug 2013, 8:35 am
Members and managers of an existing manager-managed LLC should review their operating agreement to ensure that managerial powers exercised in such LLC may continue under the RULLCA or if an amendment to the operating agreement is necessary. [read post]
