Posts for "Equity / Chancery" filter

Post date: Posted on: October 7, 2014

Amendments to the Delaware Limited Liability Company Act adopted earlier this year by the Delaware General Assembly went into effect August 1, 2014. 

The amendments are as follows:

Tags: Alternative Business Entities, Equity / Chancery, Legislation, Limited Liability Companies
Post date: Posted on: September 11, 2014

Consider the persimmon. No wild fruits are so sweet and delectable as ripe persimmons after the first fall freeze, if you can beat the birds to them. But a green persimmon is not just less tasty; it is inedible. Not even a ‘possum will eat a green persimmon.

Tags: Civil Litigation / Civil Procedure, Commercial Litigation, Courts, Equity / Chancery
Post date: Posted on: September 10, 2014

In Ross Holding and Management Co. v. Advance Realty Group LLC,[1] the Delaware Court of Chancery has held again that traditional corporate fiduciary duties of care and loyalty apply to the members and managers of limited liability companies.  The Court wrote:

Tags: Alternative Business Entities, Comparative Law, Corporations, Equity / Chancery, Fiduciary Duties, Limited Liability Companies, Partnerships
Post date: Posted on: August 28, 2014

Some types of business entities (most famously, corporations) offer limited liability to their managers, owners, and officers. That is, under most circumstances such parties will have no personal liability for debts incurred (through tort or contract) by the business entity.

Tags: Alternative Business Entities, Bankruptcy, Civil Litigation / Civil Procedure, Commercial Litigation, Contracts, Corporations, Courts, Creditor / Debtor Law, Equity / Chancery, Limited Liability Companies, Partnerships, Real Estate / Real Property, Torts
Post date: Posted on: June 27, 2014

LLC Law Monitor reports on two recent decisions (one in Montana, and the other in Louisiana) dealing with personal liability of the manager of an LLC:

Tags: Agency, Alternative Business Entities, Comparative Law, Contracts, Equity / Chancery, Limited Liability Companies, Torts

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