1910006 Informal Interpretation

Date:

Tags:

Rule:
801.2
Staff:
Anne Six
Response/Comments:

Yes, the natural person is the UPE and holds 55% of Target indirectly so list 55% in Item 1(f). 

Question

From: Six, Anne


Sent: Monday, October 7, 2019 9:37:56 AM (UTC-05:00) Eastern Time (US & Canada)


To: [Redacted]


Cc: [Redacted]


Subject: FW: UPE Question

Yes, the natural person is the UPE and holds 55% of Target indirectly so list 55% in Item 1(f).

Best,

Anne

From: [Redacted]


Sent: Monday, October 7, 2019 8:59:26 AM (UTC-05:00) Eastern Time (US & Canada)


To: [Redacted]


Subject: UPE Question

Hi all,

I have a quick UPE question:

A LLC has the right to 55% of the profits/assets upon dissolution of Target LLC.

Going up the organization’s ladder, A LLC Is controlled by numerous LLCs (100% each time), until we reach Holdings LLC (also 100%). Natural Person has the right to 53% of the profits/assets upon dissolution of Holdings LLC.

Is Natural Person still the UPE of Target LLC? And if so, would we list 29% (53% of 55%) for the percent of non-corporate interests the UPE holds in Item 1(f) on the form?

 

 

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Informal interpretations provide guidance from previous staff interpretations on the applicability of the HSR rules to specific fact situations. You should not rely on them as a substitute for reading the Act and the Rules themselves. These materials do not, and are not intended to, constitute legal advice.

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