Liquidating trustee certification
A person named in a certificate of cancellation as a liquidating trustee shall not be subject to liability as a general partner by reason of being so named. A trust certificate is a bond or debt investment, usually in a public corporation, that is backed by other assets. June 28, 2019), the Delaware Court of Chancery addressed an application for certification of an interlocutory appeal of the Court’s decision in the underlying case (the “Memorandum Opinion”) and a motion for stay pending appeal.The Plaintiffs include Inspirion’s Chief Executive Officer Stefan Aigner, who also serves on the Board, and entities that Aigner controls.Moreover, the Agreement included a mechanism for an independent representative to vote in place of an interested manager in matters regarding conflicts of interest, notably because Defendants and their family members control a variety of entities with which the Company did business.
While that may sound like an attractive balance for some investors, investing in trust certificates can be complex, because it requires both an understanding of a company's overall financial situation and the nature of the asset that underlies the trust certificate.Financial analysis can help determine if the company in question is, solvent, liquid, and/or profitable enough.Investment analysts should take time to dig into the company’s income statement, balance sheet and cash flow statement, along with management earnings calls, industry news, and other sources of information.(A) Upon the winding up of a limited partnership, the assets shall be distributed in the following order: (1) To creditors, including partners, to the extent permitted by law, in satisfaction of liabilities of the limited partnership other than liabilities for distributions to partners pursuant to section 1782.31 or 1782.34 of the Revised Code; (2) Except as otherwise provided in the partnership agreement, to partners and former partners in satisfaction of liabilities for distributions pursuant to section 1782.31 or 1782.34 of the Revised Code; (3) Except as otherwise provided in the partnership agreement, to partners first for the return of their contributions and second with respect to their partnership interests, in the proportions in which the partners share in distributions.(B) A limited partnership that has dissolved shall pay or make reasonable provision to pay all claims and obligations, including all contingent, conditional, or unmatured claims and obligations, that are known to the limited partnership and all claims and obligations that are known to the limited partnership but for which the identity of the claimant or obligee is unknown.