Previously, we discussed limiting fiduciary duty in connection with Delaware corporations and/or LLC’s. However, as is commonly the case, many clients opt for New York corporations for their private placement offering (especially where there are New York centric projects at play, such as a real estate development). As a result, the very same concern as

The entity of choice for many project finance based ventures (i.e., real estate, independent film, etc.) is the LLC (limited liability company). These entities are excellent for purposes of raising capital due to the fact that state LLC statutes often permit the LLC members to craft core aspects of the LLC by contract (namely, the