Seneca Investments

Finding Purpose Outside the LLC Agreement

By Peter Mahler on June 8, 2015

Posted in Delaware, Grounds for Dissolution, LLCs, Operating Agreement

The test for dissolution of an LLC includes whether its purpose as defined in the LLC agreement is no longer achievable. This week’s New York Business Divorce looks at cases, including a Delaware Chancery Court decision released days ago, in which courts have looked outside the agreement to determine the LLC’s purpose. …
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Delaware Court of Chancery Narrowly Construes LLC Dissolution Statute

By Peter Mahler on October 13, 2008

Posted in Delaware, Grounds for Dissolution, LLCs

When it comes to rulings by its Court of Chancery, what happens in Delaware definitely does not stay in Delaware. This week’s New York Business Divorce looks at a recent decision by that important court, dismissing a petition for judicial dissolution of a Delaware LLC.
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