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Features of SVG Limited Liability Companies
SVG LLC’s have features very similar to the IBC’s, but the following attributes and advantages are noteworthy:
Under section 61, a judgment creditor’s sole remedy against the economic interest of a member of an LLC is by way of charging order and such creditor does not have any right to obtain possession of or otherwise exercise legal or equitable remedies with respect to the property or assets of the LLC.
With the introduction of the Series LLC much used in jurisdictions such as Delaware, such vehicles are now available to those clients wishing to establish mutual funds in a jurisdiction but who do not wish to use an IBC structure.
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