Bankruptcy Blogs

In a relatively brief opinion, the Eleventh Circuit Court of Appeals ruled on the deadlines for appealing an order from the District Court (acting as an appellate court for a Bankruptcy Court Order) to the Court of Appeals.  Appellants appealed a Bankruptcy Court Order to the District Court for the Northern District of Georgia.  On July 15, 2021 the District Court dismissed the appeal after finding that Appellants lacked standing, and a Judgment was entered the same day.  Four days later, on July 19, 2021, an Amended Judgment was entered that only corrected the court division in the header.

 One of the benefits of holding property or doing business through a limited liability company is that "entry of a charging order is the exclusive remedy by which a judgment creditor of a member or of any other owner of a membership interest may satisfy a judgment out of the judgment debtor's membership interest." Tex.Bus.Org. Code Sec. 101.112(d). But just how exclusive is that right? A recent Fifth Circuit opinion holds that a court may impose additional conditions on a judgment debtor's LLC in the name of carrying out the court's orders.  Thomas v.