BarbriSFCourseDetails
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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    Class Action and Other Litigation

Date & Time
  • event Date

    Wednesday, September 29, 2021

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$297.00
CLE
ALL

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.

Faculty

Jay D. Adkisson
Managing Partner
Adkisson Pitet, LLP

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, PA

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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Description

Many judgment debtors hold substantial and valuable rights to receive profits and distributions from partnerships or LLCs of which they are members. To enforce its judgment, the judgment creditor must obtain a charging order that creates a lien against the debtor/member's interest and redirect payments intended for the debtor to the judgment creditor. However, obtaining a charging order is often a confusing process due in no small part to the fact that this unique remedy is poorly understood by litigants and the courts alike.

Charging orders are also rife with misconceptions, such as that they are the only method by which a creditor may satisfy its judgment against an interest in an LLC or partnership (it is not), or that foreclosure of the charging interest allows a creditor to access the assets of the LLC (it does not). There are also peculiar problems and opportunities that arise in the context of a single-member LLC.

Listen as our experienced panel discusses strategies for enforcing and satisfying civil judgments against the interests of the judgment debtor in partnerships and LLCs.

Outline

  1. History and legal theory of charging orders
  2. Creditor's strategies and tactics for obtaining charging orders and using them for maximum effect to enforce judgments
  3. Debtor defenses to a charging order
  4. Counseling an LLC on how to respond to a charging order
  5. Intra-member disputes involving charging orders
  6. The charging order in bankruptcy
  7. 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?