Corporate

Recent Posts

Delaware Court Orders Auction of Philadelphia Newspaper Company
Posted on 28 Apr 2014 by Francis G.X. Pileggi

In Re Interstate General Media Holdings, LLC, C.A. No. 9221-VCP (Del. Ch. Apr. 25, 2014) [ an enhanced version of this opinion is available to lexis.com subscribers ]. Why This Decision Is Notable : The Delaware Court of Chancery determined that a... Read More

Collecting on Judgments Against a Member's LLC Interest
Posted on 11 Mar 2014 by Mack Sperling

A lawyer has limited remedies to collect on a judgment from a defendant who is unwilling to pay. If the defendant holds stock in a corporation, you can execute on the shares, take possession of them, and sell them. N.C. Gen. Stat. §1-324.3 . But... Read More

Collateral Estoppel Sinks LLC Members' Claim
Posted on 17 Jun 2014 by Mack Sperling

It might seem uncontroversial that the members of a limited liability company cannot follow with a personal lawsuit for injuries after their LLC litigates, and loses, claims based on the same issues. But it took the Business Court a while to get... Read More

Eighty Five Thousand Reasons Not to Represent an LLC Without the Approval of a Majority of the Members (and one Other Thing)
Posted on 13 Nov 2014 by Mack Sperling

Be sure that an LLC member has the authority to hire you before accepting the representation of the LLC in a suit by or against another LLC member. That authorization generally requires a majority of the interest of the members, at least under the default... Read More

The NC Business Court Rules on Recovering Attorneys' Fees in a Derivative Action Against an LLC
Posted on 14 Nov 2014 by Mack Sperling

In this week's opinion in Ekren v. K&E Real Estate Investments , 2014 NCBC 56 , Judge Bledsoe outlined how a derivative action plaintiff can recover attorneys' fees [ an enhanced version of this opinion is available to lexis.com subscribers... Read More