Tag Archives: usurpation of corporate opportunity

Chancery Addresses Usurpation of Corporate Opportunity

The following synopsis was prepared by Chauna Abner, an attorney in the Delaware office of Eckert Seamans. In Leased Access Preservation Association v. Ivan Thomas, et al., C.A. No. 2019-0310-KSJM, Order (Del. Ch. Jan. 8, 2020), a non-profit, non-stock corporation filed suit against Ivan Thomas, a former board member of the plaintiff, alleging, in part, … Continue Reading

Chancery Determines Ownership Interest in LLC and Remedy for Breach of Fiduciary Duties

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 was an … Continue Reading

Chancery Grants Relief on Both Fiduciary Duty and Contract Claims Against Member of Joint Venture

In Re: Mobilactive Media, LLC, Consol. C.A. No. 5725-VCP (Del. Ch., Jan. 25, 2013).  What this Case is About:  This decision addresses claims between two members of a joint venture based on both breach of contract and breach of fiduciary duty.  Both claims were allowed to proceed and both claims prevailed as non-duplicative.  The Court also … Continue Reading
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