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Do LLC managers and controlling members have default fiduciary duties? Maybe

USA - November 12 2012 In Gatz Props., LLC v. Auriga Capital Corp. ("Auriga II"), the Delaware Supreme Court visited an issue that had seemingly been resolved by the Delaware Court of Chancery--whether the Limited Liability Company Act imposes fiduciary duties by default upon managers and controlling members of LLCs--and thrust the issue back into the realm of uncertainty....

Michelle Hodges.

Defining a joint venture's scope of business: key issues to consider

USA - September 12 2012 Early in the discussions about whether and how to form a joint venture -- perhaps as the very first significant issue to be resolved -- the potential joint venture partners will try to agree on the scope of the venture's business....

Alisa Babitz, Ruth E. Fisher, Marc Collier.

Recent trends in joint venture exit and termination provisions

USA - May 21 2012 Where tax and other considerations make it possible, we find many of our clients use the joint venture structure because it provides tremendous flexibility to the joint venture partners in structuring their relations and determining how the joint venture will operate....

Ruth E. Fisher.