Restructuring Shareholder David Guess is on the advisory board of ABI's Bankruptcy Battleground West. Additionally, he is speaking on a panel titled "How State LLC and Partnership Acts May Limit the Estate’s Rights to Manage, Control and Sell ." The panel will discuss the conflict between state LLC and partnership acts and the Bankruptcy Code, and how those state acts might impact the rights of the estate, including the right to manage and control LLCs and partnerships, and the right to sell interests in LLCs and partnerships. The panel will discuss the implications of court decisions treating LLC operating agreements and partnership agreements as executory contracts, and court decisions treating rights of first refusal, buyout rights and other ipso facto provisions (such as removal of the debtor as the manager upon bankruptcy) as enforceable in bankruptcy.
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