Gould v. Gould, C.A. No. 3332-VCP (Del. Ch. Aug. 14, 2012). This 38-page decision addressed issues that arose in connection with the dissolution of an LLC, and in particular, disputes that arose regarding the sale of assets of the LLC, which sale was overseen by a trustee appointed by the Court for the dissolution and
dissolution
Court Addresses Question of Appointment of a Receiver for Defunct Corporation to Deal with Insurance Policies and Latent Asbestos Claims
By Francis Pileggi on
Posted in Chancery Court Updates
In the recent decision styled as: In The Matter of Krafft-Murphy Co., Inc., CA No. 6049-VCP (Del. Ch. Nov. 9, 2011), read opinion here, the Court addressed the unusual and novel issue of whether a receiver can be appointed under 8 Del. C. § 279 for a dissolved insulation company for claimants who suffered…
Chancery Sorts out Imbroglio Due in Part to Lack of LLC Operating Agreement
By Francis Pileggi on
Posted in Chancery Court Updates
Phillips v. Hove, C.A. No. 3644-VCL (Del. Ch. Sept. 22, 2011). Read opinion here.
Issues Addressed
This 52-page post-trial opinion addressed a score of issues related to the fiduciary duties owed by member-managers and the dissolution of an LLC based on a deadlock. The opinion also determined the voting membership of an LLC…
Chancery Appoints Receiver Pursuant to § 17-805 to Oversee Winding-up of Dissolved LP
By Francis Pileggi on
Posted in Chancery Court Updates
Techmer Accel Holdings, LLC v. Amer, C.A. No. 4905-VCN (Del. Ch. Dec. 29, 2010), read opinion here.
Issues Addressed
This 36-page opinion from the Delaware Court of Chancery involved the appointment of a receiver pursuant to Section 17-805 of the Delaware Limited Partnership Act in order to oversee the winding up of the limited…