JD Supra

Dissolution Defined: The First Department’s Recent Guidance on Interpreting Operating Agreements

The owners’ agreement is the backbone of the closely-held business. In intracompany LLC disputes, few things are more important than what the operating agreement has to say on the subject. As a ...
Forbes

Of Ipso Facto Clauses, Executory Contracts, And LLC Operating Agreements In Bankruptcy

Forbes contributors publish independent expert analyses and insights. I cover Wealth Preservation in its legal permutations When drafting LLC operating agreements, lots of planners include clauses to ...
JD Supra

Use Caution When Amending Your Operating Agreement Without Unanimous Consent

In my experience, most operating agreements of New York LLCs include a provision barring amendments unless made in writing and executed by all members. Such provisions are especially prevalent with ...