Adkisson, Charging Order Protection Backfires At Judicial Sale In Preservation Holdings

Adkisson’s article describes a Maine court decision “in favor of Preservation Holdings, LLC and against Pamela Gleichman and others. The Maine court entered charging orders against Gleichman’s interests in some 51 different limited liability companies (LLCs) and limited partnerships (LPs).” He pinpoints one of the main takeaways from the recent judgement to be the fact that “the sale of LLC and LP interests is very likely to garner a much lower price at a judicial sale than the sale of the underlying assets, for the reason that such interests are restricted and the purchaser will never be in a better situation than that of an involuntary assignee with no control rights, i.e., a purely passive investor lacking even minimal voting rights.”

Download the full article by clicking Adkisson, Charging Order Protection Backfires At Judicial Sale In Preservation Holdings.

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