First-Impression Decision Recognizes a Cause of Action for Common-Law LLC Dissolution
By EsqSocial Corporation 19/10/20
Five years ago, we wrote about an important decision from the Delaware Chancery Court, In re Carlisle Etcetera, LLC, 114 A3d 592 [2015], in which a court recognized for the first time the existence under Delaware law of a viable cause of action for “equitable dissolution” of an LLC based upon the court’s equity powers, notwithstanding the existence of a statute explicitly setting forth the grounds for judicial dissolution....
By: Farrell Fritz, P.C.