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Breach of Duty › Distribution Rules

Farrell Fritz, P.C.

Eastland Redux: Do Close Corporation Shareholders Have a Direct Claim Against Directors For Taking Disguised Distributions?

Farrell Fritz, P.C. on

Earlier this year, using as a springboard the Maryland intermediate appellate court’s decision in Eastland Food Corp. v Mekhaya, I posted about a topic on which there’s little or no New York law, viz., whether a complaint for...more

Jones Day

Federal Court of Australia Finds Liquidator's Breach of Duty Claim Against Directors of Holding Company Valid

Jones Day on

The Situation: The question in Termite Resources NL (in liq) v Meadows, in the matter of Termite Resources NL (in liq) (No 2) [2019] FCA 354 was whether, in circumstances where the strategic, managerial and major operational...more

Patton Sullivan Brodehl LLP

LLC Distributions, Charging Orders, and Manager Fiduciary Duties

Patton Sullivan Brodehl LLP on

There are not many published California Court of Appeal opinions providing guidance for LLC managers and members. That’s why it’s an “LLC Jungle” out there. While unpublished opinions are not binding precedent outside of...more

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