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Limited Liability Company (LLC) › Dissolution › Business Entities

Morris James LLP

Chancery Holds Defendant Breached Fiduciary Duties by Failing to Distribute Assets Equally During Dissolution of LLC

Morris James LLP on

Mehra v. Teller, C.A. No. 2019-0812-KSJM (Del. Ch. Sept. 20, 2024) - In this post-trial decision, the plaintiffs claimed that one of the defendants breached his fiduciary duties by failing to distribute assets equally at...more

Patton Sullivan Brodehl LLP

Appointing a Receiver to Safeguard Against LLC Shenanigans

Patton Sullivan Brodehl LLP on

A prior post — A Receiver For Your LLC? — covered the basics of court-appointed receivers acting on behalf of an LLC. It is always worth keeping in mind that a receiver appointed to handle the affairs of an LLC is a “general...more

Farrell Fritz, P.C.

Dissolution Undone

Farrell Fritz, P.C. on

Business divorce and non-judicial (a/k/a voluntary) dissolution of a business entity rarely intersect. But when they do, or even in a non-business divorce setting, if a business owner needs to rescind a certificate of...more

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