TRANSFER RESTRICTIONS AND ASSIGNMENT OF LLC INTERESTS

March 10, 2020

Peter Mahler of the FarrellFritz law firm summarizes his latest post from his New York Business Divorce website as follows:

“The Appellate Division, Second Department’s ruling last month in Berhend v. New Windsor Group, LLC illustrates the disastrous results when care is not taken by the assignee of an LLC interest to determine the validity of the assignor’s interest and the existence of transfer restrictions in the LLC’s operating agreement.”

The importance of the post to every LLC lawyer is self-evident.

Here’s the link to Peter’s post:

https://www.nybusinessdivorce.com/2020/03/articles/llcs/always-check-provenance-before-taking-an-assignment-of-llc-interest/

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