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2018 Articles

Amendment to the Limited Liability Company Act provides new buyout remedy By Samuel Neschis December 2018 An amendment to the Limited Liability Company Act that became effective on July 1, 2017, provided a new right to limited liability company members, dissociated members, and transferees of distributional interests to petition a court for an order requiring that their interests be purchased under certain circumstances.
Groves v. Walsh Construction confirms successor liability not triggered when former controlling owner repurchases assets after a “leadership break” during which he had minimal ownership and management involvement By Michael R. Karnuth December 2018 In The Groves of Palatine Condominium Ass’n v. Walsh Construction Co., the appellate court affirmed dismissal of a third-party complaint on grounds that an LLC was not the continuation of the predecessor corporation for purposes of successor liability.
Kim v. Song: A primer on how not to plead a securities case By Prof. Charles W. Murdock, Jasmina Hamulic, & Ronni Tansey November 2018 Yoon Ja Kim v. James JH Song was predicated upon a tortuous interpretation of the Illinois Securities Law of 1953, the federal securities laws, and common law fraud.
Mergers & Acquisitions Corner: Tales from the trenches By Markus May November 2018 The mergers and acquisitions world is one in which you are always learning new ways to try to get deals done.
Which subsidiary would you choose? By Elizabeth A. Tracy November 2018 An analysis of the potential benefits and downsides of the subsidiary entity.