CORPORATE TRANSACTIONS & COMPLIANCE BLOG

Fiduciary Duties in the LLC Context: Delaware Supreme Court Leaves the Issue Open

By: Heather Jefferson, COGENCY GLOBAL INC. on Fri, Nov 30, 2012

Summary by The Delaware Counsel Group, LLP, Attorneys At Law

Delaware LLC Fiduciary Duties resized 600One of the legal business issues being closely watched in Delaware is when, and if, the Delaware Supreme Court will address the question of whether “default” fiduciary duties exist in the limited liability context. The Gatz Properties, LLC v. Auriga Capital Corp. case is as close as the highest court in Delaware has come to addressing the issue. We are pleased to offer our readers a summary of this case written by The Delaware Counsel Group, LLP, Attorneys At Law. We will continue to monitor the issue and send along any important future summary updates or case law.

 

This article is provided for informational purposes only and should not be considered, or relied upon, as legal advice.