Series LLCs: Structuring and Financing Concerns for Lenders and Investors
Navigating UCC Perfection, Bankruptcy Risks and Conflicting State Statutes
A live 90-minute CLE webinar with interactive Q&A
This CLE webinar will discuss the formation and structuring of series LLCs and examine the issues and risks lenders face in loan transactions involving series LLCs, including UCC Article 9, Bankruptcy Code and treatment of series LLCs under state statutes.
- Structuring a series LLC
- What are series?
- Liability shields
- Entity status
- Governance considerations
- Issues faced by lenders and potential solutions
- Series and UCC Article 9
- Identifying the debtor with rights in the collateral
- Issues with UCC filings against Series
- Delaware's proposed amendments to address UCC and other issues
- Series LLCs and the Bankruptcy Code
- Can a series be a debtor in bankruptcy?
- Will liability shields be respected in bankruptcy?
- Closing opinions for series of LLCs
- Salient differences in opining on series rather than LLCs
- How Delaware's proposed amendments address opinion issues
- Inherent limitations
The panel will review these and other noteworthy topics:
- Establishing internal shields
- Will internal shields be respected in other states?
- Series are not entities
Allison L. Land
Skadden Arps Slate Meagher & Flom
Ms. Land advises clients in all areas of Delaware corporate and alternative entity law, focusing on Delaware laws... | Read More
Ms. Land advises clients in all areas of Delaware corporate and alternative entity law, focusing on Delaware laws governing limited liability companies and limited partnerships. She has counseled clients on the use of Delaware alternative entities in connection with equity investment funds, asset securitizations, acquisitions, reorganizations and initial public offerings.Close
Sparkman & Foote
Mr. Sparkman practices in the areas of business, tax, securities, professional responsibility, and philanthropic... | Read More
Mr. Sparkman practices in the areas of business, tax, securities, professional responsibility, and philanthropic planning matters. He speaks regularly on entity selection, series LLCs, equity compensation, governance, ethics, and philanthropic planning topics. He is the author of numerous articles, including most recently “Series LLCs in Interstate Commerce” and “Tax Aspects of Series LLCs,” Business Law Today (February 2013).Close
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