Levy v. Carolinian, LLC

This case is about the efforts of Respondent Carolinian, LLC (Carolinian) to acquire the distributional interest of Bhupendra Patel (Patel), a member of Carolinian, from judgment creditors, Appellants Shaul and Meir Levy (collectively “Levys”), who purchased Patel’s distributional interest at a foreclosure sale. The circuit court found that, pursuant to Carolinian’s Operating Agreement, Carolinian could compel the Levys to sell their distributional interest after the foreclosure sale. We reverse.

I

Carolinian is a closely held, manager-managed limited liability company (LLC), which is organized…