Highlights & Analysis of Key Decisions from Delaware's Supreme Court & Court of Chancery
Grove v. Brown, C.A. No. 6793-VCG (Del. Ch. Aug. 8, 2013)
Issues Addressed: This post-trial opinion addresses issues involved in a 4-person LLC whose members disputed: (1) what specific ownership interest each had in the LLC; (2) the impact of a member not contributing the required amount of start-up capital; (3) whether there…
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…