Avoiding and Dealing with LLC Deadlocks
12:30 PM EST
Businesses are overwhelmingly choosing to create limited liability companies in lieu of corporations. More specifically, LLCs routinely consist of two members or an even amount of members. In representing these types of entities or its members, it is important to carefully draft the terms of operating agreement which would avoid a deadlock in the event of a dispute. Absent proper drafting, these entities may be forced to spend a significant amount of money in judicially forced dissolution proceedings. This program would first address the drafting of an operating agreement which would diminish the need for litigation in the event of a dispute. However, if there is a dispute amongst the members requiring the commencement of a dissolution proceeding, the second part of this program would focus on the practicalities of bringing and defending this type of a proceeding or exploring alternate dispute resolutions.
Natasha Shishov, Jaspan Schlesinger LLP, New York
John Cunningham, McLane, Graf, Raulerson & Middleton, New Hampshire
Peter Mahler, Farrell Fritz, New York
Sponsored by: YLD Business Law Committee and Young Lawyer Committee of the Business Law Section