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BLT: January 2013

Using Limited Liability Company Interests and Limited Partnership Interests as Collateral

Feature Articles

Using Limited Liability Company Interests and Limited Partnership Interests as Collateral

This article will describe (1) the methods of perfecting a security interest in equity interests in alternative entities, (2) mistakes practitioners often make when using equity interests in alternative entities as collateral, and (3) a few helpful tips for practitioners to keep in mind when using equity interests in alternative entities as collateral.

The SEC announced charges against eight former members of the board of directors of several closed-end and open-end registered investment companies. The case is noteworthy for the specificity of the allegations against the board members, and provides insight into how the SEC's enforcement division will pursue cases against fund directors in the future. Also, the form and substance of the allegations may broadly affect how fund directors carry out their fair valuation responsibilities.

Many due diligence reviews in mergers, acquisitions, and investments have ignored the issue of independent contractor misclassification liability. In view of the crackdown by federal and state governments on the misclassification of employees as ICs, due diligence efforts should not overlook this often hidden exposure.

Companies preparing their 2013 proxy statements and other periodic reports should keep in mind some recent changes and other developments that may affect their disclosures in these documents.

The Delaware Court of Chancery has recently had a variety of rulings on the validity of “Don’t Ask, Don’t Waive” provisions.

An interview with Donald Parsons.

This month’s Inside Business Law focuses on the Private Equity and Venture Capital Committee, Cyberspace Law Committee and a new edition of Blue Sky Bugle.

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Question: In 2013, Edward Snowden facilitated the release of more than 58,000 classified documents and exposed the Section 215 bulk data collection and PRISM monitoring programs. Who is credited in some circles as pulling off the first network “hack” in history? 

Please see Inside Business Law for the answer to this month’s Business Law Section Trivia Question.

The June 2016 issue of Business Law Today will have two main themes: compliance and white collar crime. Compliance topics include practical tips ranging from hiring in the workplace to regulatory compliance with company jets. White collar crime will look inside encryption for lawyers as well as multijurisdictional bribery enforcement. In this issue, readers will get acquainted with the brand-new cyber technology column and the second piece in a three-part series on commercial contracts.

Do you have a great idea for a BLT article? Would you like to see more of a featured column? Let us know how we can make Business Law Today the best resource for you and your clients. We welcome any suggestions. Please send us your feedback here.

Saratoga Institute on Equine, Racing and Gaming Law
August 9-10, 2016
Saratoga Springs, NY

Business Law Section Annual Meeting
September 8-10, 2016
Boston, MA

Miscellaneous IT Related Legal News (MIRLN) 17 April - 7 May 2016 (v19.07)

BLT is a web-based publication drawing upon the best of the Section's resources, including featured articles and other information from around the Section. Stay informed on the latest business law practice news and information that will benefit you and your clients.