Posted on August 9, 2010 by Francis G.X. Pileggi

Chancery Refuses to Impose Fiduciary Duties on Parties to LLC Agreement

Related Westpac LLC v. JER Snowmass LLC, C.A. No. 5001-VCS (Del. Ch. July 23, 2010), read opinion here. Brief Overview This case involves a suit between members of two LLCs formed to pursue a land development project in Snowmass, Colorado. When the funding needs of the project exceeded the agreed... Continue Reading...
Tags: , , , ,
Posted on January 31, 2010 by Francis G.X. Pileggi

Chancery Orders Dissolution of LP Based on "Not Reasonably Practicable" Standard in Section 17-802

Harris v. RHH Partners, LP, et al., No. 1198-VCN, (Del. Ch., January 27, 2010), read letter decision here. A prior decision in this case by the Delaware Court of Chancery was highlighted here. Why This Short Ruling is Noteworthy This decision in noteworthy because it applies a statute that, comparatively... Continue Reading...
Tags: , , , , , ,
Posted on June 21, 2009 by Francis G.X. Pileggi

Litigating LLCs

Professor Larry Ribstein, a leading authority on LLCs, has written an article regarding litigation involving LLCs. Here is a link to his article entitled: Litigating in LLCs.... Continue Reading...
Tags: ,
Posted on May 8, 2009 by Francis G.X. Pileggi

Chancery Court Denies Books and Records Demand for LLC

JAKKS Pacific, Inc. v. THQ/JAKKS Pacific, LLC, Del. Ch., No. 4295-VCL (May 6, 2009), read opinion here. Pursuant to Section 18-305 of the Delaware Limited Liability Company Act (6 Del. C. Section 18-305), the plaintiff in this case sought an inspection of the books and records of an LLC. The... Continue Reading...
Tags: , , ,
Posted on May 8, 2009 by Francis G.X. Pileggi

Motion for Summary Judgment on Dissolution Granted But Request for Appointment of Liquidating Trustee Denied Based on Terms of LLC Agreement

In Re Nextmedia Investors, LLC, Del. Ch., No. 4067-VCS (May 6, 2009), read opinion here. This Delaware Chancery Court opinion includes instructive recitations of Delaware law on a topic of relevance to all those who labor in the field of business litigation. A key focus in this case was to... Continue Reading...
Tags: , , , ,
Posted on April 23, 2009 by Francis G.X. Pileggi

Chancery Court Rejects Request to Dissolve LLC

In Re: Arrow Investment Advisors, LLC, Del. Ch., No. 4091-VCS (April 23, 2009), read opinion here. This Chancery Court decision dismissed a petition seeking a dissolution of an LLC pursuant to Section 18-802 of the Delaware LLC Act. Although each year brings more case law interpreting this statute, there is... Continue Reading...
Tags: , , , ,
Posted on April 21, 2009 by Francis G.X. Pileggi

Chancery Court Imposes Fiduciary Duties on LLC Members

Bay Center Apartments Owner, LLC v. Emery Bay PKI, LLC, Del. Ch., No. 3658-VCS (April 20, 2009), read opinion here. This Delaware Chancery Court decision addresses fiduciary duties and related issues in an LLC context, and should be of great interest to those lawyers who practice business litigation. Legal Issues... Continue Reading...
Tags: , , , , , , , , , , , , ,
Posted on April 15, 2009 by Francis G.X. Pileggi

Chancery Court Dismisses Sundry Claims Against LLC Members

Kuroda v. SPJS Holdings, L.L.C., Del. Ch., No. 4030-CC (April 15, 2009), read opinion here. This case involves the following claims among members of an LLC, arising out of an LLC Agreement: (i) breach of contract; (ii) tortious interference with contract; (iii) tortious interference with prospective economic advantage; (iv) breach... Continue Reading...
Tags: , , , , , , , , , , , , , , , , ,