News & Analysis as of

Limited Liability Company (LLC) Civil Liability

King & Spalding

Sharp Teeth: Civil and Criminal Liability for Officers and Directors of Insolvent Saudi and UAE Companies

King & Spalding on

The recent detention of a restructuring professional in the United Arab Emirates serves as a stark reminder that directors and officers of insolvent or distressed companies can face personal liability for their actions or...more

Hinshaw & Culbertson LLP

Ruling Concerning Series LLCs in Illinois Highlights Importance of Differentiating and Following Statutory Procedures

While the Illinois Limited Liability Company Act (IL LLC Act) has provided a statutory mechanism for establishing Series LLCs since 2005, the Illinois Fourth District Appellate Court only issued its first ruling concerning...more

Patton Sullivan Brodehl LLP

Think Carefully Before Forming an “Out of State” LLC

Many California-based LLC managers and members are lured by the potential benefits of forming the LLC under the laws of a jurisdiction outside of California. Delaware can be an enticing option. Delaware is known for its...more

Carlton Fields

Variable Annuity with a No-lose Death Benefit Is Not Subject to the Statutory and Common Law Insurable Interest Requirement -...

Carlton Fields on

Western Reserve Life Assurance Co. of Ohio v. ADM Associates, LLC, 116 A.3d 794 (R.I. 2015) - Case at a Glance - In a case of first impression, the Rhode Island Supreme Court held that a particular variable annuity...more

Ballard Spahr LLP

Limited Liability Company Can Sue as “Person” Under FDCPA, Sixth Circuit Rules

Ballard Spahr LLP on

A limited liability company is a “person” that can file a lawsuit under the Fair Debt Collection Practices Act (FDCPA), the U.S. Court of Appeals for the Sixth Circuit has ruled. In Anarion Investments LLC v. Carrington...more

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