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: Delaware Business Litigation ReportCourt of Chancery Dissolves a Deadlocked LLC
By Morris James LLP
Fisk Ventures, LLC v. Segal, C.A. 3017-CC (Del. Ch. Jan. 13, 2009) It has long been established that a limited partnership may be dissolved when a deadlock makes it impossible to carry on the partnership business. Here the Court of Chancery applied that same law to an LLC as the statute also provides for a judicial dissolution when it is "not reasonably practical to carry on the business" for which the entity was created.
Full post as published by Delaware Business Litigation Report on January 13, 2009 (boomark / email).
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