by Staff of the Firm | May 26, 2016 | Business Management, Partnerships, Personal Liability, Texas Law Update, Uncategorized
In American Star Energy and Minerals Corporation v. Stowers,[1] four partners formed a general partnership called S&J Investments (“S&J”) to invest in oil and gas properties. S&J contracted with American Star Energy and Minerals Corporation (“American”)...
by Staff of the Firm | May 24, 2016 | Business Management, Personal Liability, Uncategorized
In our previous blog series on Comparison of LLC Statutes, we briefly touched on the concept of LLC charging order. In many states, including Delaware, New York, and Texas, a creditor with a judgment against an LLC member can apply for a charging order to satisfy the...
by Staff of the Firm | May 19, 2016 | Business Management, Partnerships, Personal Liability, Texas Law Update, Uncategorized
In our previous blog series on general partnership, we talked about what general partnership is and why it is important for business owners to know about it. We wrote that, despite the advent of limited liability companies (LLCs), business owners frequently form a...
by Staff of the Firm | Dec 29, 2015 | Business Management, LLC, Uncategorized
Vision Marketing Resources, Inc. v. McMillin Group, LLC. In Vision Marketing, the court first addressed whether it could issue a charging order against a non-Kansas LLC over which it did not have jurisdiction. There was no Kansas case law on this issue, so the court...
by Staff of the Firm | Dec 19, 2015 | Business Management, LLC, Uncategorized
In our previous blog series on single-member LLCs and creditors’ rights (available here), we discussed charging order protection and courts’ application of the same to single-member LLCs. As we mentioned, the obvious purpose of charging order is to protect other...
