News & Analysis as of

Liquidation Receivership Limited Liability Company (LLC)

Farrell Fritz, P.C.

LLC’s Post-Dissolution Receivership is On, is Off, is On

Farrell Fritz, P.C. on

Last week’s post examined an unusual case in which the court appointed a temporary receiver of an LLC pending the adjudication of the minority members’ petition for judicial dissolution....more

Morris James LLP

Court Of Chancery Determines That Advancement Claim Is A General Creditor Claim

Morris James LLP on

These two decisions hold that an advancement claim should be treated as a claim of a general creditor by a company in liquidation. Hence, those claims do not get priority in payment along with administrative expenses of the...more

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