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Source Mergers and Dissolution Wisconsin Bar Exam Topic Index Matched to this deck.

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A dissolved LLC distributes most of its cash to members after receiving written notice of a substantial pending equipment-defect claim.
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The owners are liable for every future claim in unlimited amounts because limited liability always ends on dissolution. The entity should make reasonable provision for the known claim before distributing assets, and improper distributions can create liability under applicable LLC rules. The claimant must first prove the members intended to defraud creditors before the entity has any duty to reserve assets. The entity may distribute all cash to owners because dissolution eliminates pending tort and contract claims.

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