ELLIOTT GREENLEAF WINS SUPERIOR COURT APPEAL IN LLC DISPUTE

Elliott Greenleaf recently won a significant Pennsylvania Superior Court appeal concerning the requirements of asset transfers to a limited liability company (“LLC”) under Pennsylvania law.

Reversing the trial court, the Superior Court granted the Firm’s initial Motion to preserve the assets, and ordered an estate beneficiary who had wrongly taken $700,000 to repay the funds to the Estate.

EGS successfully argued that the Appellees Estate beneficiary could not receive funds from the deficient transfer of assets of the decedent’s sole proprietorship to a LLC, when the Appellees failed to follow multiple mandatory requirements for such a transfer, including implementing an operating agreement for the LLC and necessary gift tax returns. The Superior Court agreed that unfulfilled intent cannot effect legally enforceable transfers of assets to LLCs in Pennsylvania.

Senior shareholder Marvin L. Wilenzik, shareholder Kevin S. Anderson and associates Colin J. O’Boyle and Justin R. Miller represented the successful estate on appeal.

Philadelphia/Blue Bell
Elliott Greenleaf
& Siedzikowski, P.C.
925 Harvest Drive
P.O. Box 3010
Blue Bell, PA 19422
Phone: (215) 977-1000
Fax: (215) 977-1099
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Philadelphia
Elliott Greenleaf
1818 Market Street
Suite 3750   
Philadelphia, PA 19103
Phone: (215) 977-1000
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Harrisburg
Elliott Greenleaf & Balaban
Governors' Row
27 North Front Street
Harrisburg, PA 17101
Phone: (717) 234-3282
Fax: (717) 233-4264
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Scranton
Elliott Greenleaf & Dean
PNC Bank Adm. Building
201 Penn Avenue, Suite 202
Scranton , PA 18503
Phone: (570) 346-7569
Fax: (570) 969-2890
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Wilmington
Elliott Greenleaf
1105 Market Street, Suite 1700
Wilmington, DE 19801
Phone: (302) 384-9400
Fax: (302) 384-9399
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Wilkes-Barre
Elliott Greenleaf & Dean
39 Public Square, Suite 1000
Wilkes-Barre, PA 18702
Phone: (570) 371-5290
Fax: (570) 371-5550
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