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Baker Botts L.L.P. v. ASARCO LLC, 576 U.S. 121 (2015), was a United States Supreme Court case in which the Court held that Section 330(a)(1) of the Bankruptcy Code does not permit bankruptcy courts to award attorney's fees for work performed while defending fee applications.
ASARCO Inc. v. Idaho Tax Commission, 458 U.S. 307 (1982), was a United States Supreme Court case in which the Court held that, in a state's calculation of income tax for a corporation from another state, the state cannot include income from the intangible assets of subsidiary corporations that have on connection with the state.
LLP (Limited liability partnership): partnerships are governed on a state-by-state basis in Australia. In Queensland, a limited liability partnership is composed of at least one general partner and one limited partner. It is thus similar to what is called a limited partnership in many countries.
A Japanese Limited liability partnership (LLP) is not a corporation, (i.e. a separate legal entity from partners within the meaning of Anglo-American Law) but rather, exists as a contractual relationship between the partners, similar to an American Limited liability partnership (LLP).
An LLLP is a limited partnership, and it consists of one or more general partners who are liable for the obligations of the entity, as well as or more protected-liability limited partners. [1] Typically, general partners manage the LLLP, while the limited partners' interest is purely financial.
Under this form, debts of a limited liability limited partnership are solely the responsibility of the partnership, thereby removing general-partner liability for partnership obligations. This change was made in response to the common practice of naming a limited-liability entity as a 1% general partner that controlled the limited partnership ...
The former can generally be overridden by express agreement between the partners. Whilst the latter is in general hardly varied, a careful draft would oust certain kinds of third party liability. A clause can contain that only the negligent partners can be sued and it is the wrongdoers that pay damages to victims only.
Directors and officers liability insurance (also written directors' and officers' liability insurance; [1] often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for ...
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