The Court of Chancery recently concluded that a member of a Delaware LLC could reach an implied contractual agreement to withdraw as a member of the LLC, even if the
Continue Reading A Member of a Delaware LLC Can Withdraw Their Membership by Implied AgreementDelaware LLC Act
Personal Jurisdiction over LLC Manager Act Analyzed by Chancery
By Fox Rothschild LLP on
In the recent decision of In the Matter of Dissolution of Artic Ease LLC, C.A. No. 8932-VCMR (Del. Ch. Dec. 9, 2016), the Court of Chancery analyzed whether an…
Continue Reading Personal Jurisdiction over LLC Manager Act Analyzed by Chancery
Advancement Rights – “By Reason of the Fact” Standard Discussed
By Fox Rothschild LLP on
In a prior post, we discussed the “by reason of the fact” requirement in Delaware advancement proceedings. In that post, we addressed the decision of Lieberman v. Electrolytic Ozone, …
Continue Reading Advancement Rights – “By Reason of the Fact” Standard Discussed
Delaware LLC Books and Records Demand: Requested Documents Must Be “Narrowly Tailored” to a Proper Purpose
By Fox Rothschild LLP on
Unlike a Section 220 request for books and records under the Delaware General Corporation Law (“DGCL”), the books and records provision of the Delaware LLC Act (Section 18-305) can be…
Continue Reading Delaware LLC Books and Records Demand: Requested Documents Must Be “Narrowly Tailored” to a Proper Purpose
Delaware LLC “Books and Records” Demand
By Fox Rothschild LLP on
A member or manager of a Delaware limited liability company may wish to obtain access to the company’s books and records. Such information can be useful in determining, for example,…
Continue Reading Delaware LLC “Books and Records” Demand