Scott Altonian and Brent Barringer represented two capital members in connection with the formation of a professional limited liability company in Massachusetts for the purpose of engaging in the practice of law, and the admission to the PLLC of three new profits members.
The Operating Agreement was crafted to create two tranches of ownership, including a “capital” interest tranche and “profits” interest tranche, and address issues relative to the nature of the business and special allocations of revenue based upon the nature of the business. HF attorneys collaborated with their clients, attorneys representing the profits members, accountants, and ERISA and 401k specialists, in order to structure, document, and close the transaction.
Up Next...
