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Delaware Supreme Court affirms reformation of LLC agreements but reverses award of attorneys' fees - law firm was working for free

Last year the Delaware Court of Chancery reformed the cash distribution waterfall provisions of three real estate joint venture LLC agreements

LLCs have become the entity of choice for most new businesses, and as a result charging orders are being sought more and more frequently. A novel

Two weeks ago Montana joined the nine other states that have authorized series LLCs. Montana Governor Steve Bullock signed House Bill 362 on April 12

In 2011 Ott v. Monroe threw a monkey wrench into the transferability of Virginia LLC member control interests. The Virginia Supreme Court ruled that

Last fall the Delaware Supreme Court surprised many corporate lawyers when it declared that whether the Delaware LLC Act imposes fiduciary duties on

Veil-piercing law varies widely from state to state, and a recent Maryland case is an example of the member-protective end of the spectrum. Its

New York's Appellate Division recently had to decide whether the "de facto merger" doctrine applied when an LLC transferred its business to a sole

A contract that limits a corporate director's vote is generally invalid, but not so for LLC managers. The guiding principle for LLCs is freedom of

The Illinois Appellate Court was recently faced with an appeal of a trial court's charging orders against 72 LLCs and limited partnerships (LPs

An LLC manager that causes its LLC to enter into a transaction where the manager has a conflict of interest can create havoc. Case in point: An