Bankruptcy Court Invalidates State Law Terminating LLC Membership Interest on Bankruptcy Filing | Practical Law

Bankruptcy Court Invalidates State Law Terminating LLC Membership Interest on Bankruptcy Filing | Practical Law

An update on an order by the US Bankruptcy Court for the Western District of Arkansas in In re Dixie Management & Investment, LP, invalidating an Arkansas statute and a provision in an LLC Agreement which disassociate a member of an LLC if the member files a voluntary bankruptcy petition.

Bankruptcy Court Invalidates State Law Terminating LLC Membership Interest on Bankruptcy Filing

by PLC Corporate & Securities
Published on 18 May 2011USA (National/Federal)
An update on an order by the US Bankruptcy Court for the Western District of Arkansas in In re Dixie Management & Investment, LP, invalidating an Arkansas statute and a provision in an LLC Agreement which disassociate a member of an LLC if the member files a voluntary bankruptcy petition.