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Breach of Duty › Private Equity › Limited Liability Company (LLC)

Whiteford

Client Alert: Bankruptcy Meets State Court: Lessons from a $4M Escrow Dispute - June 30, 2025

Whiteford on

When bankruptcy courts and state courts vie for authority in complex financial disputes, the outcome can reshape recoveries for creditors, investors, and businesses. This tension was front and center in Silverman v....more

Morris James LLP

Chancery Finds Merger Validly Amended LLC Agreement and Effectively Removed the LLC’s Manager

Morris James LLP on

Campus Eye Management Holdings LLC v. DiDonato, C.A. No. 2024-0121-LWW (Del. Ch. Aug. 30, 2024) - This case arose out of a dispute between an optometrist who sold a majority stake in his company to a private equity buyer,...more

Patton Sullivan Brodehl LLP

Operating Agreement Doesn’t Excuse Breach of Fiduciary Duty

Patton Sullivan Brodehl LLP on

Many posts on The LLC Jungle blog have focused on the fiduciary duties owed by LLC managers to both the LLC’s members and the LLC itself. Other posts have focused on the pitfalls of LLC Operating Agreements that fail to...more

Patton Sullivan Brodehl LLP

LLC Operating Agreements: Indemnity, Arbitration, and Equity

Patton Sullivan Brodehl LLP on

LLC operating agreements frequently provide for indemnity to the LLC’s manager. This is consistent with the statutory default rule embodied by California Corporations Code section 17704.08(a), which provides for indemnity...more

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