Enforcing Judgments With Charging Orders: Redirecting Partnership and LLC Profits to Judgment Creditors
Recording of a 90-minute CLE video webinar with Q&A
This CLE course will offer commercial litigators the tools needed to exercise the exclusive remedy available for obtaining and monetizing liens against the judgment debtor's partner or member interests in partnerships and limited liability companies--charging orders. The program will discuss how they are obtained, choice of law issues, procedural requirements, discovery, foreclosure and redemption of interests, and the effect of taxes and bankruptcy on enforcement.
Outline
- History and legal theory of charging orders
- Creditor's strategies and tactics for obtaining charging orders and using them for maximum effect to enforce judgments
- Debtor defenses to a charging order
- Counseling an LLC on how to respond to a charging order
- Intra-member disputes involving charging orders
- The charging order in bankruptcy
- Tax issues as seen through the eyes of all the parties to charging order litigation
Benefits
The panel will review these and other essential issues:
- Can creditors prevent the devaluation of partner/member interests?
- How do entities and their members/partners try to circumvent charging orders?
- Are there any other methods for levying on member/partner interests?
- What are best strategies for creditors to obtain charging orders and use them for maximum effect?
Faculty
Jay D. Adkisson
Managing Partner
Adkisson Pitet
Mr. Adkisson is a managing partner of Adkisson Pitet LLP and is admitted to practice in Arizona, California, Nevada,... | Read More
Mr. Adkisson is a managing partner of Adkisson Pitet LLP and is admitted to practice in Arizona, California, Nevada, Oklahoma, and Texas. A 1988 graduate of the University of Oklahoma College of Law with honors and a member of the Oklahoma Law Review, he has twice been an expert witness to the U.S. Senate Finance Committee. He is the Forbes.com writer on wealth preservation issues. He has served as an ABA Advisor to the drafting committees of the Uniform Voidable Transactions Act, the Uniform Protected Series Act, the Uniform Registration of Canadian Money Judgments Act, and the Uniform Public Expression Protection Act. He has also served as the Chair of the American Bar Association committees on captive insurance and insurance and financial products. His books include Asset Protection Concepts & Strategies (McGraw-Hill 2004), Adkisson's Captive Insurance Companies (iUniverse 2007), and the Charging Order Practice Guide (Am.Bar.Assoc. 2018). He is an honorary member of the California Association of Judgment Professionals and a Hall of Fame member of the National Association of Estate Planning Councils. His law practice is in creditor-debtor law, including the attack and defense of sophisticated asset protection structures.
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John L. Williams
Partner
The Williams Law Firm
Mr. Williams is experienced in negotiating transactions, drafting documents, and advocating for clients in all Delaware... | Read More
Mr. Williams is experienced in negotiating transactions, drafting documents, and advocating for clients in all Delaware state courts as both plaintiff and defense counsel. He is a frequent lecturer on Delaware LLCs and choice of entity, among other topics, and has served as an expert witness in Delaware LLC-related litigation. Mr. Williams is licensed to practice law in Delaware, Pennsylvania, New York, New Jersey and Massachusetts.
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