In the recent Delaware Supreme Court decision of CompoSecure LLC v. Cardux LLC, C.A. No. 177, 2018 (Del. Nov. 7, 2018), the High Court found that a contract may
Continue Reading Delaware Supreme Court Holds that Contract May be Voided by LLC Agreement; Remands for Further Proceedings
Entity Formation
LLC Operating Agreements: Top 10 List of Material Terms
By Fox Rothschild LLP on
When entering into an LLC operating agreement, there are many important factors and issues that must be taken into consideration. Because under Delaware law, LLCs are “creatures of contract,” and…
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Court Reinforces Notion of Contractual Freedom of LLC Operating Agreements
By Fox Rothschild LLP on
In the matter of Paul v. Delaware Coastal Anesthesia, C.A. No. 7084-VCG (Del. Ch. May 29, 2012), the Court of Chancery examined whether the language of an LLC agreement…
Continue Reading Court Reinforces Notion of Contractual Freedom of LLC Operating Agreements
Amendments to Delaware General Corporation Law Brings Clarity to Nonstock Corporations
By Fox Rothschild LLP on
In August 2010, Delaware enacted several amendments to the Delaware General Corporation Law (“DGCL”) in connection with nonstock corporations. Prior to these 2010 amendments, the DGCL lacked a comprehensive approach…