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...
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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...
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Posted on February 20, 2009 by Francis G.X. Pileggi

Chancery Court Appoints Liquidating Trustee for Deadlocked LLC

Spellman v. Katz, (Del Ch., Feb. 6, 2009), read opinion here. This Delaware Chancery Court opinion involved the appointment of a liquidating trustee to wind-up the LLC where the two 50/50 owners were deadlocked and their Operating Agreement already provided for dissolution. The same vice chancellor issued a decision a... Continue Reading...
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Posted on January 26, 2009 by Francis G.X. Pileggi

Chancery Dissolves LLC Based on Section 18-802 "Reasonably Practicable" Standard

In Fisk Ventures LLC v. Segal, (Del. Ch., Jan. 13, 2009), read opinion here, (hat tip: Delaware Business Litigation Report), the Delaware Chancery Court dissolved an LLC based on the standard in Section 18-802 of the Delaware LLC Act, that it was not "reasonably practicable" to carry on the business... Continue Reading...
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