Professor Ann Conaway on the Delaware Supreme Court’s Recent CML Opinion

Professor Ann Conaway of the Widener University School of Law provides scholarly insight here on the recent Delaware Supreme Court decision in CML V, LLC v. Bax, No. 735, 2010 (Del. Supr. Sept. 2, 2011), that we highlighted on these pages here. The CML ruling, in essence, affirmed a Court of Chancery opinion which held that the Delaware LLC Act does not give creditors the right to file derivative suits againsts an LLC.

Bill Callison adds his comments on the case here. Professor Joshua Fershee provides his analysis here, as noted by Professor Bainbridge here.