Fisk Ventures, LLC v. Segal

Chancery Court Decision in Fisk Ventures, LLC v. Segal


In this opinion, the Court of Chancery rules for a judicial dissolution when it is "not reasonably practical to carry on the business" for which the limited liability company was created.

This case presents the narrow question of whether it is “reasonably practicable,” under 6 Del. C. § 18-802, for a Delaware limited liability company to continue to operate.

When such a company has no office, no employees, no

operating revenue, no prospects of equity or debt infusion, and when the company’s Board has a long history of deadlock as a result of its governance structure, more than ample reason and sufficient evidence exists to order dissolution.

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Reference Info:Decision | State, 3rd Circuit, Delaware | United States

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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