In Feeley v. NHAOCG, LLC , C.A. No. 7304-VCL (Del. Ch. Nov. 28, 2012), the Delaware Court of Chancery addressed–for the first time since the recent Delaware Supreme Court decision in Gatz Properties v. Auriga Capital, highlighted on these pages here, the issue of default fiduciary duties in the LLC context. We will
default fiduciary duty and LLCs
Default Fiduciary Duties for Delaware LLC Managers
By Francis Pileggi on
Posted in Commentary, Court of Chancery Updates
The Delaware Supreme Court heard oral argument last week on the appeal of a decision by the Delaware Court of Chancery that imposed default fiduciary duties on the manager of a Delaware LLC. The caption in the Supreme Court is styled as Gatz Properties v. Auriga Capital Corp. Audio of the oral argument is…