Highlights & Analysis of Key Decisions from Delaware's Supreme Court & Court of Chancery
Huatuco v. Satellite Healthcare,et al., C.A. No. 8465-VCG (Del. Ch. Dec. 9, 2013).
Issue Addressed: Whether the provisions of the LLC agreement waived the statutory right to dissolution that a member of an LLC would otherwise have, pursuant to Section 18-802 of the Delaware LLC Act. Short Answer: Yes.
Brief Overview:…
Wiggs v. Summit Midstream Partners, LLC, C.A. No. 7801-VCN (Del. Ch. March 28, 2013).
This opinion addresses: claims for breach of fiduciary duty in the context of an LLC agreement, which waived all fiduciary duties, and also addresses a claim based on the implied covenant of good faith and fair dealing, as well as…
Olson v. Halvorsen, No. 1884-VCL (Del. Ch., May 13, 2009), read opinion here
Two prior Delaware Chancery Court opinions in this case were previously summarized here.
This most recent iteration of a bitter dispute between three co-founders of a hedge fund addressed whether a departing member of an LLC was only entitled to…
In Re Seneca Investments LLC, 2008 WL 4329230 (Del. Ch., Sept. 23, 2008), read opinion here. The Chancery Court in this opinion, on a motion for judgment on the pleadings under Rule 12(c), "puts meat on the bones" of Section 18-802 of the Delaware LLC Act, which is the provision that allows a member of an LLC to…