Delaware Alternative Entities - The Benefits and Burdens of Contractual Flexibility


Norman M. Powell, a partner in Young Conaway's Business Planning, Transactions and Restructuring Section, is a regular speaker at conferences on topics including the use and structure of alternative entities, and secured transactions. His recent article published in the American Bar Association's Probate & Property magazine discusses:

key features of alternative entities;

the formation of Delaware LLCs and DSTs;

certain cautions for those providing, or receiving, legal opinions on alternative entities;

unique issues that arise when LLCs with series become debtors for Uniform Commercial Code Article 9 purposes;

and questions concerning LLCs with series (and the series themselves) as debtors under the Bankruptcy Code.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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