Site /
Single-Member LLCs And Charging Orders
Site.TopicsSingleMemberLLCSMLLC History
Hide minor edits - Show changes to output
Changed lines 38-55 from:
# [[2020LouisianaAOKPropertyLateArrivingMember|+]] https://chargingorder.com/opinion-2020-louisiana-aok-property-charging-order-late-arriving-member.html
----
----
Regions Bank v. Hyman, 2015 WL 1912251 (M.D.Fla., 2015).
# [[2015FloridaRegionsBank|+]] https://chargingorder.com/opinion-2015-florida-regions-bank-charging-order.html
----
----
Hage v. Salkin, 2012 WL 718644 (S.D.Fla., Slip Copy, 2012).
# [[2012FloridaHage|+]] https://chargingorder.com/opinion-2012-florida-hage-charging-order.html
----
----
Olmstead v. FTC, 44 So.3d 76 (Fla., 2010).
# [[2010FloridaOlmstead|+]] https://chargingorder.com/opinion-2010-florida-olmstead-charging-order.html
to:
Deleted lines 40-44:
----
----
2017.11.23 ... Charging Order Not Exclusive Remedy For SMLLC Interest In Heckert
[[2017TexasHeckert|+]]
Added lines 25-26:
** [[2020LouisianaAOKPropertyLateArrivingMember|+]]
Changed lines 29-30 from:
to:
** [[2017TexasHeckert|+]]
Changed lines 38-43 from:
Saadi v
Heckert v. Heckert, 2017 WL 5184840 (Tex.App., 2017).
to:
2020.12.17 ... Louisiana Court Of Appeals Rejects Busting Of Single-Member LLC In AOK Property
# [[2020LouisianaAOKPropertyLateArrivingMember|+]] https://chargingorder.com/opinion-2020-louisiana-aok-property-charging-order-late-arriving-member.html
----
----
2017.11.23 ... Charging Order Not Exclusive Remedy For SMLLC Interest In Heckert
[[2017TexasHeckert|+]]
----
----
Changed lines 50-53 from:
to:
# [[2015FloridaRegionsBank|+]] https://chargingorder.com/opinion-2015-florida-regions-bank-charging-order.html
----
----
----
----
Changed lines 55-56 from:
to:
# [[2012FloridaHage|+]] https://chargingorder.com/opinion-2012-florida-hage-charging-order.html
----
----
Olmstead v. FTC, 44 So.3d 76 (Fla., 2010).
# [[2010FloridaOlmstead|+]] https://chargingorder.com/opinion-2010-florida-olmstead-charging-order.html
----
----
Olmstead v. FTC, 44 So.3d 76 (Fla., 2010).
# [[2010FloridaOlmstead|+]] https://chargingorder.com/opinion-2010-florida-olmstead-charging-order.html
Added lines 16-26:
----
!!!SMLLC ARTICLES
* [[https://www.forbes.com/sites/jayadkisson/2021/03/30/some-random-musings-about-single-member-llcs-versus-multiple-member-llcs/ | 2021.03.30]] ... Some Random Musings About Single-Member LLCs Versus Multiple-Member LLCs
* [[https://www.forbes.com/sites/jayadkisson/2020/12/17/louisiana-court-of-appeals-rejects-busting-of-single-member-llc-in-aok-property/ | 2020.12.17]] ... Louisiana Court Of Appeals Rejects Busting Of Single-Member LLC In AOK Property
* [[https://goo.gl/HYn2F7 | 2017.11.23]] ... Charging Order Not Exclusive Remedy For SMLLC Interest In Heckert
Changed line 19 from:
!!SINGLE-MEMBER LLC OPINIONS
to:
!!!SINGLE-MEMBER LLC OPINIONS
Changed line 21 from:
(:pagelist link=Category.SMLLC list=normal:)
to:
(:pagelist link=Category.SMLLC list=normal fmt=title:)
Changed line 6 from:
[[!Topic]] SMLLC
to:
[[!Topic]] SMLLC [-TopicsSingleMemberLLCSMLLC-]
Changed lines 1-4 from:
(:title TEXT:)
(:Summary:TEXT:)
(:descriptionTEXT:)
(:keywords charging order,TEXT:)
(:Summary:
(:description
(:keywords charging order,
to:
(:title Single-Member LLCs And Charging Orders:)
(:Summary: Single-Member LLCs And Charging Orders:)
(:description Single-Member LLCs And Charging Orders:)
(:keywords charging order, SMLLC, single member, llc:)
(:Summary: Single-Member LLCs And Charging Orders:)
(:description Single-Member LLCs And Charging Orders:)
(:keywords charging order, SMLLC, single member, llc:)
Changed line 6 from:
[[!topic]] [[!TEXT]]
to:
[[!Topic]] SMLLC
Changed lines 9-16 from:
to:
Since the ''sine qua non'' of charging order exclusivity is to protect the interest of non-debtor partners pursuant to the "pick you partnership" doctrine, the charging order remedy should not apply to a single-member LLC (SMLLC).
The ULLCA establishes a two-part procedure for dealing with SMLLCs: First, the creditor obtains a charging order lien under § 503(a); and, second, the creditor forecloses on the lien under § 503(f), which makes the creditor the new single member of the LLC, which then is presumably wound up so that its assets may be distributed to creditors.
It is suggested that this procedure is wasteful and somewhat duplicative, and that a creditor should simply be allowed to levy on the single interest in the same fashion as any general intangible. Consideration should also be given to simply allowing the creditor to levy directly upon the LLC's assets.
Note that there is an issue as to when the single member status of the entity is to be tested, considering that a wily debtor will attempt to have a strawman buy a 1% or other small interest in the LLC for value so as to destroy the single-member status. Whether the existing provisions are retained or new provisions are adopted, this issue should be addressed.
The ULLCA establishes a two-part procedure for dealing with SMLLCs: First, the creditor obtains a charging order lien under § 503(a); and, second, the creditor forecloses on the lien under § 503(f), which makes the creditor the new single member of the LLC, which then is presumably wound up so that its assets may be distributed to creditors.
It is suggested that this procedure is wasteful and somewhat duplicative, and that a creditor should simply be allowed to levy on the single interest in the same fashion as any general intangible. Consideration should also be given to simply allowing the creditor to levy directly upon the LLC's assets.
Note that there is an issue as to when the single member status of the entity is to be tested, considering that a wily debtor will attempt to have a strawman buy a 1% or other small interest in the LLC for value so as to destroy the single-member status. Whether the existing provisions are retained or new provisions are adopted, this issue should be addressed.
Changed lines 18-21 from:
!!TEXT OPINIONS
(:pagelist link=Category.TEXT list=normal:)
(:pagelist link=Category.
to:
!!SINGLE-MEMBER LLC OPINIONS
(:pagelist link=Category.SMLLC list=normal:)
Changed lines 24-34 from:
to:
AOK Property Investments, LLC v. Boudreaux, ___ So.3d ____, 2020 WL 7240057, 20-237 (La.App. 5 Cir. Dec. 9, 2020).
Saadi v. Maroun, 2018 WL 1282325 (M.D.Fla., 2018).
Heckert v. Heckert, 2017 WL 5184840 (Tex.App., 2017).
Regions Bank v. Hyman, 2015 WL 1912251 (M.D.Fla., 2015).
Hage v. Salkin, 2012 WL 718644 (S.D.Fla., Slip Copy, 2012).
Olmstead v. FTC, 44 So.3d 76 (Fla., 2010).
Saadi v. Maroun, 2018 WL 1282325 (M.D.Fla., 2018).
Heckert v. Heckert, 2017 WL 5184840 (Tex.App., 2017).
Regions Bank v. Hyman, 2015 WL 1912251 (M.D.Fla., 2015).
Hage v. Salkin, 2012 WL 718644 (S.D.Fla., Slip Copy, 2012).
Olmstead v. FTC, 44 So.3d 76 (Fla., 2010).
Changed line 6 from:
[[!topic]]
to:
[[!topic]] [[!TEXT]]
Changed lines 8-16 from:
[[<<]]
to:
[[<<]]
TEXT
----
!!TEXT OPINIONS
(:pagelist link=Category.TEXT list=normal:)
----
TEXT
TEXT
----
!!TEXT OPINIONS
(:pagelist link=Category.TEXT list=normal:)
----
TEXT
Added lines 1-8:
(:title TEXT:)
(:Summary: TEXT:)
(:description TEXT:)
(:keywords charging order, TEXT:)
(:linebreaks:)
[[!topic]]
[[<<]]
[[<<]]
(:Summary: TEXT:)
(:description TEXT:)
(:keywords charging order, TEXT:)
(:linebreaks:)
[[!topic]]
[[<<]]
[[<<]]