Although Delaware courts have been consistent in affirming the general principle that default fiduciary duties may be contractually modified in the context of Delaware limited partnerships by the limited partnership agreement, In re El Paso Pipeline Partners, L.P. Derivative Litigation, C.A. No. 7141-VCL (Del. Ch. April 20, 2015), serves as a reminder that transactions

Showell v. Pusey, C.A. No. 3970-VCG (Del. Ch. Sept. 1, 2011).

Issue Addressed

This opinion interprets an LLC Agreement in order to determine what value, if any, a member is due for his interest in an accounting firm, formed as an LLC, in connection with his departure from the firm.  The Court determined that