Symonds & O'Toole on Delaware Limited Liability Companies

Mr. Matthew J. O'Toole is past Chair of the Business Group of Potter Anderson Corroon LLP. He concentrates his practice on corporate and business transactions, particularly the structure and use of Delaware business entities, including corporations, limited liability companies, partnerships (general and limited) and statutory trusts. He often serves as counsel to lenders, borrowers, investors, managers, trustees and other parties involved in both domestic and international business transactions. His practice frequently involves providing third-party legal opinions concerning Delaware’s General Corporation Law, Delaware’s alternative entity statutes, the Delaware UCC, and other applicable law. Mr. O’Toole is a past chair and current member of the Council of the Corporation Law Section of the Delaware State Bar Association, which monitors and proposes amendments to the General Corporation Law of the State of Delaware, and sits as well on the committee that monitors the Delaware Statutory Trust Act. He is a past chair and current member of the Delaware State Bar Association committee responsible for proposing amendments to the Delaware Limited Liability Company Act and to Delaware’s limited partnership and general partnership laws. Matt has served previously on other committees established by the Council, including the Technology Update Committee, which undertook a comprehensive review of Delaware’s General Corporation Law to study and recommended changes to that statute to accommodate current technology. He is one of the principal drafters of the Delaware Revised Captive Insurance Company Act and the Delaware Insurance Company Mutual-to-Stock Conversion Act. Mr. O’Toole is co-author of Symonds & O'Toole on Delaware Limited Liability Companies, published by CSC/LexisNexis. His articles on amendments to Delaware’s corporate and alternative entity statutes and the Delaware UCC are published regularly in CSC’s Delaware Laws Governing Business Entities and he is author of the "Delaware Limited Liability Company Practice Guide," in State Limited Liability Company & Partnership Laws, published by Aspen Law & Business. In addition, he has written a number of other publications and guides that serve as references for both business and legal professionals. Mr. O’Toole has been recognized in The Best Lawyers in America for corporate law, mergers and acquisitions law, business organizations, and securitization and structured finance law. He also has been recognized as one of the leading corporate, alternative entities, and M&A lawyers in Delaware by Chambers & Partners.

Mr. Robert L. Symonds, Jr. is a retired partner in the Business Group of Potter Anderson Corroon LLP. He focused his practice on corporate and business transactions, particularly the structure and use of Delaware business entities, including Delaware corporations, limited liability companies, partnerships and statutory trusts. He often served as Delaware counsel to lenders, borrowers, investors, managers, trustees and other parties in domestic and international business transactions. His practice frequently involved providing third-party legal opinions as to matters of Delaware corporate law, Delaware alternative entity law and other applicable law.

In addition to being one of the original drafters of the Delaware Limited Liability Company Act, Mr. Symonds is a former chairman of the drafting committee responsible for amendments to that statute and to the Delaware Revised Uniform Limited Partnership Act and the Delaware Revised Uniform Partnership Act. He also is a former member of the drafting committee for the Delaware Statutory Trust Act and is one of the principal drafters of the Delaware Revised Captive Insurance Company Act and the Delaware Insurance Company Mutual-to-Stock Conversion Act. In addition, he served as a member of the legislative drafting committee of the Delaware Captive Insurance Association.

Mr. Symonds is a former chair of the Delaware State Bar Association’s Commercial Law Section, which monitors and recommends changes to Delaware’s business and commercial laws. He frequently appeared before the Delaware Legislature to provide testimony on proposed Delaware legislation and related matters.

Mr. Symonds is co-author of the law treatise Symonds and O’Toole on Delaware Limited Liability Companies, published by CSC/LexisNexis. He is the author of a number of publications and guides that serve as references to both business professionals and legal advisors who participate in transactions involving Delaware business entities and has spoken at numerous seminars on topics of Delaware law.