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Limited Liability Company (LLC) › Motion to Dismiss › Debtors

Patterson Belknap Webb & Tyler LLP

Bankruptcy Remoteness Going to a Court of Appeals

Patterson Belknap Webb & Tyler LLP on

Back in the day--say, the last two decades of the twentieth century--we bankruptcy lawyers took it largely on faith that the right structural and contractual provisions purporting to confer bankruptcy-remoteness were...more

BCLP

Bankruptcy Courts Closing In – Will An Agreement Requiring Unanimous Consent To File For Bankruptcy Be Effective?

BCLP on

We’ve all seen it. The business opportunity looks enticing but is laced with risk about a potential bankruptcy filing down the road. As bankruptcy lawyers we are often asked how deals can be structured to prevent a...more

McGuireWoods LLP

Delaware Court Voids LLC Agreement Provision Giving Creditor Veto Over Bankruptcy

McGuireWoods LLP on

A Delaware bankruptcy court has joined what appears to be a recent trend toward invalidating limited liability company operating agreement provisions that effectively afford lenders veto power over the LLC’s authority to file...more

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