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Allen Matkins

Delaware LLCs - "I See Trouble On the Way"

Allen Matkins on

Delaware had barely birthed changes to Section 144 of its General Corporation Law when the Plumbers & Fitters Local 295 Pension Fund filed a complaint challenging those changes.  The plaintiff seeks a declaration that the...more

Allen Matkins

The Uncertainty Of Officer Appointments In California LLCs

Allen Matkins on

The California Revised Uniform Limited Liability Company Act, Cal. Corp. Code § 17701.01 et seq., clearly authorizes the appointment of officers...more

Patton Sullivan Brodehl LLP

The Perils of Buying Property from an LLC with Competing Claims to Managerial Authority

Prior LLC Jungle posts have addressed the tricky issue of LLC managerial authority in the context of the LLC’s dealings with third parties... As referenced in those posts, under Corporations Code section 17703.01, when an...more

Farrell Fritz, P.C.

Top 10 Business Divorce Cases of 2022

Farrell Fritz, P.C. on

I’m delighted to present our 15th annual list of the past year’s ten most significant business divorce cases. This year’s list includes decisions by New York’s trial and appellate courts concerning a smorgasbord of...more

Fox Rothschild LLP

A Member of a Delaware LLC Can Withdraw Their Membership by Implied Agreement

Fox Rothschild LLP on

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 LLC does not have a written operating agreement....more

Morris James LLP

Court Of Chancery Determines That Advancement Claim Is A General Creditor Claim

Morris James LLP on

These two decisions hold that an advancement claim should be treated as a claim of a general creditor by a company in liquidation. Hence, those claims do not get priority in payment along with administrative expenses of the...more

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