In North Carolina, a creditor who obtains a judgment against an individual with an ownership interest in a limited liability company or limited liability partnership may enforce its unsatisfied judgment by petitioning the...more
A lender’s decision between taking a fixed charge and taking a floating charge requires it to weigh a multitude of pros and cons. A fixed charge ranks ahead of an earlier floating charge that has not crystallized when the...more
A primary focus when starting a business should answer this question: What structure provides the most protection? New founders can get bogged down in the minutia about whether to choose a corporation or a limited liability...more
Effective January 1, 2023, Wisconsin will arguably become a more creditor-friendly state for judgment creditors of an LP partner or LLC member by virtue of the additional rights afforded a judgment creditor under Chapters 179...more
A charging order is a device used by a judgment creditor to collect on a judgment against an LLC member. The charging order imposes a lien on the judgment debtor’s economic (or “transferable”) interest in the LLC — the order...more
In Manichaean Capital, LLC v. Exela Tech., Inc. (C.A. No. 2020-0601-JRS (Del. Ch. May 25, 2021)), the Court of Chancery ruled as a matter of first impression in Delaware that plaintiffs could pursue “reverse veil piercing”...more
A “charging order” allows a judgment creditor to receive a debtor’s share of distributions from a limited liability company (LLC) or a partnership. With the proliferation of LLCs in the last 20 years, understanding “charging...more
Effective February 21, 2017, Pennsylvania law will change significantly for business corporations, nonprofit corporations, and especially for limited liability companies (“LLCs”), limited partnerships (“LPs”), limited...more
In 2007, Nevada imposed an interesting limitation, the charging order, on the ability of creditors to foreclose on shares of closely-held Nevada corporations. Here’s how the Nevada Secretary of State’s website describes the...more
The D.C. Circuit dealt a blow last week to judicial attempts to exercise supervision over Justice Department negotiated Deferred Prosecution Agreements. In United States v. Fokker, the Court answered the question in a...more
This survey covers the legal principles governing Georgia businesses, their management and ownership. It catalogs decisions ruling on issues of corporate, limited liability company and partnership law, as well as transactions...more
A well-crafted position statement is critical to the employer’s defense of a charge of discrimination filed at the Equal Employment Opportunity Commission (EEOC). It is the company’s opportunity to tell its side of the story,...more
The EEOC has implemented new, nationwide procedures allowing a charging party and/or her representative to request immediate access to the employer’s position statement. More than ever, employers need to carefully consider...more
On Feb. 18, 2016, the Equal Employment Opportunity Commission (EEOC) issued its Nationwide Procedures for Releasing Respondent Position Statements and Obtaining Responses from Charging Parties, which are retroactive to all...more
An “attorney charging lien” allows an attorney to recover compensation for his services from a fund recovered with his assistance....more
Although commonly known, judgment creditors rarely utilize the charging order as a collection mechanism. This may change as a result of recent case law developments. The charging order has long been recognized in the...more
A lawyer has limited remedies to collect on a judgment from a defendant who is unwilling to pay. If the defendant holds stock in a corporation, you can execute on the shares, take possession of them, and sell them. N.C. Gen....more
The 2013 Florida Legislature made several important changes to the law governing Florida limited liability companies (LLCs). The new law was based primarily on the Revised Uniform Limited Liability Company Act as amended in...more