Judgment creditor may execute against interest in a single-member LLC
- United States
- 07/13/2010
The Florida Supreme Court in Olmstead v. FTC, No. SC08-1009 (Fla. June 24, 2010), has ruled that the membership interest of a single-member limited liability company (“LLC”) is subject to execution and foreclosure by a creditor of the single-member or sole owner of the LLC. In dicta, the Court also indicated that a charging lien may not be the sole and exclusive remedy available to a creditor of a member of a multi-member LLC.
