The Charging Orders Practice Guide: Understanding Judgment Creditor Rights Against LLC Members

    By Jay David Adkisson

    The Charging Orders Practice Guide: Understanding Judgment Creditor Rights Against LLC Members

    The Charging Orders Practice Guide: Understanding Judgment Creditor Rights Against LLC Members

    By Jay David Adkisson

    ISBN: 978-1-64105-264-1
    Product Code: 5070762
    2018, 336 pages, 7×10, Paperback

    A charging order is a remedy by which a judgment-creditor may collect against a member’s interest in an LLC or a partner’s interest in a partnership. With the increased popularity of LLCs, charging orders are becoming more common and it is crucial that both planners and those seeking to collect on judgments understand what a charging order does and does not do. Likewise, those seeking to resist a charging order need to understand how they may do so. Written by Jay Adkisson, a nationally-recognized expert on charging orders, with input from members of the Business Law Section’s LLCs, Partnerships and Unincorporated Entities Committee, The Charging Orders Practice Guide will help you understand the complexities of this area of the law.

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    Limited Liability Companies (LLCs) have become the predominant form of business entity created for American businesses, now far surpassing annually the numbers of new corporations. Among the features that have made LLCs attractive is that membership interests in an LLC are not subject to the traditional remedies, such as Writs of Levy, that have long been available to the creditors of shareholders. Instead, a creditor's recovery against the LLC interest of debtor is restricted to a heretofore little discussed remedy known as a "charging order."

    Corresponding to the rise of LLCs, creditor-debtor litigation involving LLC membership interests has likewise increased in volume. This has created a need for all concerned parties, meaning creditors, debtors, non-debtor members, the LLC, and even potential third-party buyers of LLC interests at a foreclosure sale of charging orders, to be able to come up-to-speed quickly on the subject of charging order. Thus, the LLCs, Partnerships and Unincorporated Entities Committee of the ABA's Business Law Section presents The Charging Orders Practice Guide to give readers a source of both the legal theory underlying charging orders and pragmatic suggestions as to how to deal with them from all viewpoints.

    The Charging Orders Practice Guide discusses a broad array of issues involving this remedy, including:

    • The history and legal theory which underpins charging orders
    • Creditor's strategies and tactics for obtaining charging orders and using them for maximum effect to enforce judgments
    • Step-by-step guidance to obtaining and enforcing a charging order
    • Debtor defenses to a charging order
    • Counseling an LLC on how to respond to a charging order
    • Charging orders and single-member LLCs
    • Intra-member disputes involving charging orders
    • The charging order in bankruptcy
    • Tax issues as seen through the eyes of all the parties to charging order litigation
    • And much more!

     

    BONUS: Appendices include sample charging order documents, plus both of Professor Carter Bishop's widely-cited fifty-state tables listing state statutes and the most important charging order decisions.

    Product Details

    Sponsor Groups

    Business Law Section

    Publisher

    ABA Publishing

    Author

    Jay David Adkisson

    ISBN

    9781641052641

    Product Code

    5070762

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