News & Analysis as of

Limited Liability Company (LLC)

Bradley Arant Boult Cummings LLP

The Potential Double Whammy: Will the Company Have to Pay the Legal Fees of Disloyal Former Insiders If the Company Sues Them?

In a real-life case of adding insult to financial injury, companies harmed by the disloyal actions of their former partners, officers, managers or employees (the “former insiders”) may also have to pay their legal fees when...more

Snell & Wilmer

Unincorporated Tribal Entities Are “Stateless” for Purposes of Diversity Jurisdiction: Liveious et al. v. Caesars Entertainment,...

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A recent decision by the U.S. District Court for the Southern District of Indiana in Liveious et al. v. Caesars Entertainment, Inc. et al., highlights a critical and often overlooked issue in federal civil litigation: the...more

Farrell Fritz, P.C.

For Embattled Bich Family, “Full Membership” Requires Admittance Without Precondition

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We’ve recently written on a number of disputes arising out of posthumous transfers of corporate ownership interests, particularly where the transfer documents in question (often times, an estate planning device, e.g., a will...more

Davidoff Hutcher & Citron LLP

When To Seek Judicial Dissolution For Your Restaurant Business

Running a restaurant with business partners can be a rewarding venture, but partnerships don’t always go as planned. Disagreements, financial troubles, and breaches of fiduciary duty can create conflicts so severe that...more

Paul Hastings LLP

Nevada Court Finds Business Judgment Rule Applies to Nevada LLCs

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The Nevada District Court recently clarified that the business judgment rule — a fundamental corporate law protection — applies to limited liability companies when their operating agreements specify fiduciary duties. The...more

Levenfeld Pearlstein, LLC

Independent Sponsor Update: Key Takeaways from Q2

The second quarter was another busy one for us: In addition to deal work and portfolio company matters, our team attended conferences and continued to meet with various capital providers, independent sponsors, placement...more

Troutman Pepper Locke

Delaware Court of Chancery Invalidates Noncompete Provision Found in Typical Sponsor Equity Documents

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In Weil Holdings II, LLC, v. Jeffrey Alexander, DPM, the Delaware Court of Chancery struck down a noncompete provision contained in the LLC agreement of a sponsor-backed portfolio company, finding the provision unreasonable...more

Dorsey & Whitney LLP

2025 Delaware Entity Statutory Amendments

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On August 1st, the 2025 amendments to Delaware’s entity statutes went into effect. These include amendments to the Delaware General Corporation Law (the “DGCL”), the Delaware Limited Liability Company Act (the “LLC Act”), the...more

Clark Hill PLC

EIN retention in healthcare M&A: How F-Reorganizations can preserve regulatory and tax continuity

Clark Hill PLC on

Often in healthcare transactions, retaining a federal Employer Identification Number (“EIN”) after an acquisition or restructuring is essential to the continuity of operations, regulatory compliance, and preservation of key...more

Farrell Fritz, P.C.

Summer Shorts: A Trio of Recent Decisions of Interest in LLC Member Disputes

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Welcome to this 15th annual edition of Summer Shorts. This year’s edition features brief commentary on a trio of recent decisions by New York courts in business divorce cases, all involving LLCs, including: A relatively...more

McCarter & English, LLP

Recent Amendments to Delaware Alternative Entity Statutes

On August 1, 2025, legislation went into effect amending the Delaware Limited Liability Company Act (the LLC Act), the Delaware Revised Uniform Limited Partnership Act (the LP Act), and the Delaware Revised Uniform...more

Farrell Fritz, P.C.

Hoping to Take Assignment of an LP or LLC Interest? Best Read the Contract

Farrell Fritz, P.C. on

A recent decision from one of our favorites, Albany County Commercial Division Justice Richard M. Platkin, is a reminder to would-be assignees of limited partnership interests that without total compliance with the terms and...more

Holland & Knight LLP

Conversion of Partnership and LLC Interests into Qualified Small Business Stock

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Given the recent amendments to Internal Revenue Code Section 1202,1 which increase the benefits of holding qualified small business stock (QSBS), many companies currently operating as tax partnerships may want to convert into...more

WilmerHale

Alternative Structures for Life Sciences Companies: The LLC Holding Company

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Life sciences companies (particularly early stage companies) may be attracted to an LLC holding company structure as an alternative to a typical C corporation structure to maximize both the purchase price paid by a future...more

Freiberger Haber LLP

The Relation Back Doctrine and Statutes of Limitation in Mortgage Foreclosure Actions

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Today’s BLOG deals with the “Relation Back Doctrine” (the “Doctrine”), which, inter alia, “allows a claim asserted against a defendant in an amended filing to relate back to claims previously asserted against a codefendant...more

Davidoff Hutcher & Citron LLP

How to Structure Real Estate Ownership for Maximum Asset Protection in the Restaurant Industry

For restaurant owners in New York, owning real estate can be a powerful asset—offering stability, long-term equity growth, and operational control. However, real estate ownership also exposes your business and personal wealth...more

Fox Rothschild LLP

Corporate Transparency Deadline Rapidly Approaching for New York LLCs

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The U.S. Department of the Treasury decided in March to suspend enforcement of the federal Corporate Transparency Act (CTA), but limited liability companies (LLCs) formed or authorized to do business in New York state still...more

Patton Sullivan Brodehl LLP

Bankruptcy Property Deal Devolves Into Mess of Contract and Fiduciary Duty Claims

The bankruptcy process is often straightforward: the debtor’s debts are discharged, creditors take a haircut of varying degrees, and life moves on.  But some bankruptcy proceedings give birth to complicated agreements that...more

ArentFox Schiff

Court Upholds Gilks’ Trade Secrets in Fly Boatworks Dispute

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This case is an important reminder that in trade secrets litigation, the specific business context is critically important and may be outcome determinative. Here, a closely held business was held to a much more lenient...more

Morgan Lewis

No Gift Tax on Increases in the Value of Shares in the Case of Shareholder-Allocated Contributions

Morgan Lewis on

In a proceeding for suspension of enforcement, the Federal Fiscal Court (BFH) has concluded that also disproportionate contributions into the capital reserve do not constitute a gift tax-relevant increase in the value of...more

Rivkin Radler LLP

Drop & Swap Like-Kind Exchange Passes Muster in New York

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New York’s personal income tax law, like that of other states, conforms with the federal system of income taxation. The reason typically given for such conformity is to simplify tax return preparation, improve compliance and...more

Patton Sullivan Brodehl LLP

Another LLC Attorney Disqualified Due to “Conflict of Authority”

A prior LLC Jungle post covered the Court of Appeal’s seminal opinion in the Jarvis v. Jarvis case here: Why Having “Co-Managers” for Your LLC is a Terrible Idea. In the Jarvis case, the Court of Appeal affirmed the...more

Farrell Fritz, P.C.

On Camera: My Recent Video Interview on, What Else, Business Divorce (Part 2)

Farrell Fritz, P.C. on

This post features Part 2 of a recent two-part program to be later aired on New York City public access cable in which I was interviewed by Sandra Schulte on an array of topics in the business divorce universe. Sandra has...more

Hendershot Cowart P.C.

Texas LLCs, Corporations: Act Now to Secure New Business Protections from 2025 Legislative Reforms

Hendershot Cowart P.C. on

Major changes to Texas Business Organizations Code enacted during this summer’s legislative session provide unprecedented protection for management decisions and business disputes – but only if you amend your governing...more

Butler Snow LLP

Veil Piercing, Revisited

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In 2020, when we last blogged on corporate veil piercing in Tennessee, we matter-of-factly said, “[t]he law in Tennessee on ‘piercing the corporate veil’ has not substantially changed” since previous blogs. Well, that’s no...more

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