Blocking Member Provision in LLC Agreement Designed to Prevent Bankr...
06/03/16
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Blocking Member Provision in LLC Agreement Designed to Prevent Bankruptcy Filing Unenforceable
Lexology (registration)
A contractual waiver of an entity's right to file for bankruptcy is generally invalid as a matter of public policy. Nonetheless, lenders sometimes attempt to prevent a borrower from seeking bankruptcy protection by conditioning financing on a covenant ...
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Lexology (registration)
A contractual waiver of an entity's right to file for bankruptcy is generally invalid as a matter of public policy. Nonetheless, lenders sometimes attempt to prevent a borrower from seeking bankruptcy protection by conditioning financing on a covenant ...