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Maine Superior Court Rejects Effort by Judgment Creditors to Impose Member’s debt on the Assets of their LLC

On March 6, 2017, the Superior Court issued summary judgment finding that a judgment creditor’s sole remedy against a judgment debtor’s interests in a limited liability company (LLC) is to obtain a charging order against the debtor’s membership interests in the LLC.  Importantly, the Court found that the judgment creditor cannot impose the debtor’s liabilities … Continued

Purchase of Alfred Waterboro Veterinary Hospital

Richard Olson represented Dr. Magda Rosol, DVM in the acquisition of the Alfred Waterboro Veterinary Hospital.  Dr. Jim Stepenson of Simmons Northeast brokered the deal and Pacific Continental provided financing for acquisition of the practice and the real estate.   Perkins Olson provided counsel in all aspect of the acquisition. This will bring a new energy and … Continued

David Perkins Completes Harvard Mediation Course

Dave Perkins completed the five day “Mediating Disputes” at the Harvard Negotiation Institute during the week of October 17. The course focused on mediating disputes with the involvement of the disputants throughout the entire mediation process. In most mediation settings in Maine, the mediator uses the “caucus” approach which separates the parties into separate rooms … Continued

The ESOP Succession Tool

Dave Perkins represented a company that closed on an Employee Stock Ownership Plan (“ESOP”) in January. With this transaction, the company’s current value was determined by appraisal.  The shareholders then sold 100% of the company’s stock to an ESOP trust. The ESOP trust administers the company’s stock for the benefit of the employees. The purchase … Continued

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