JD Supra

Court Finds Plaintiff Failed To Plead Impropriety Of LLC Distributions

The California Revised Uniform Limited Liability Company Act defines a "distribution" as a transfer of money or other property from a "limited liability company" (Cal. Corp. Code § 17701.02(k)) to ...
JD Supra

Court Grants Garnishment of Unlawful Distributions and Transfers to LLC Members

Garnishment is a tool used by judgment creditors to collect on a judgment owed by the debtor-defendant. Property subject to garnishment includes monetary obligations owed by a third party to the ...
Law

Bankruptcy Code Preempts LLC Act's Statute of Repose for Recovery of Distributions

In Miller v. Black Diamond Capital Management (In re Bayou Steel BD Holdings), Adv. Pro. No. 21-51013 (KBO), 2022 WL 3079861 (Bankr. D. Del. Aug. 3, 2022), U.S. Bankruptcy Judge Karen B. Owens held ...
Forbes

Avoiding Charging Order By Not Making Distributions Leads To Contempt Charges In SE Property

Baldwin County courthouse in Bay Minette, Alabama, where this case took place. In October of 2010, SE Property Holdings LLC (SEPH) obtained a judgment in Alabama state court for a little more than $9 ...