Relying on the Third Circuit’s Cybergenics decision, the Delaware Bankruptcy Court recently authorized a creditors’ committee to sue the members and officers of a debtor LLC, despite provisions of the Delaware Limited Liability Company Act restricting such derivative actions. Limited liability companies present unique issues in bankruptcy. This presentation will address some of those issues, including derivative standing to assert bankruptcy claims; the enforceability of ipso facto provisions in state law and LLC agreements; the treatment of operating agreements; and the sale of membership interests in bankruptcy.

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**NOTE: Watching this recording does not allow the user to obtain CLE, CPD, CPE or HR credits.