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: Delaware Business Litigation ReportCourt Of Chancery Upholds Nullification Claim
By Edward M. McNally
Thor Merritt Square LLC v. Bayview Malls LLC, C.A. 4480-VCP (March 5, 2010)
On occasion, the members of an LLC try to end its life by filing a certificate of cancellation with the Delaware Secretary of State. This is done in the hope that it will provide a defense to suits over the LLC's obligations. Well, that does not work. As this decision explains, a creditor may then file a claim to nullify the certificate of cancellation and to seek a receiver.
Full post as published by Delaware Business Litigation Report on March 05, 2010 (boomark / email).
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