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Many investors take on an operating thesis that, by law, the obligations of investment companies are not the obligations of the investor. They apply this whether their fund has invested in the securities of a limited partnership, a limited liability company or a corporation.

In the first of two episodes, McGuireWoods partner Mark Freedlander joins host Geoff Cockrell to explore the limits of this idea. Tune in as they discuss preference statutes, fraudulent conveyance and patterns that emerge in troubled portfolio companies.