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Home / Opinion Digests / Corporate / Corporate — LLC Member Accounts – Referee’s Report – Deficits – Settlement Agreement (access required)

Corporate — LLC Member Accounts – Referee’s Report – Deficits – Settlement Agreement (access required)

The members of a limited liability company agreed to settle a lawsuit over their capital account dispute; after a referee submitted his report, either party was to make the payment required to balance their capital accounts. Where defendant had a deficit of $501,965 and plaintiff had a deficit of $331,616, the trial court erred by ...

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