Corporate

Recent Posts

Management Liability Insurance for Law Firms and the Dewey & LeBoeuf Bankruptcy
Posted on 6 May 2013 by Kevin M. LaCroix

The collapse of the venerable Dewey & LeBoeuf law firm is a cautionary tale from which observers have drawn many lessons, including cautions about the perils associated with large law firm mergers and the challenges associated with various forms of... Read More

When Law Firms Dissolve: Dividing Up The Proceeds From Contingent Fee Cases
Posted on 14 Mar 2013 by Mack Sperling

The Court of Appeals in February 2011 ordered Judge Jolly to dissolve Mitchell, Brewer, Richardson, Adams, Burge & Boughman, a law firm organized as a member-managed professional limited liability company. The dissolution was ordered per N.C.... Read More

Dissolving a Partnership for Frustration of Purpose
Posted on 8 May 2012 by Lee Berlik

Under Virginia law, a partner can apply for dissolution of a partnership under Virginia Code § 50-73.117(5) upon grounds that: (a) The economic purpose of the partnership is likely to be unreasonably frustrated; (b) Another partner has engaged... Read More

Management Liability Insurance for Law Firms and the Dewey & LeBoeuf Bankruptcy
Posted on 6 May 2013 by Kevin M. LaCroix

The collapse of the venerable Dewey & LeBoeuf law firm is a cautionary tale from which observers have drawn many lessons, including cautions about the perils associated with large law firm mergers and the challenges associated with various forms of... Read More

Chancery Addresses Two Methods for Dissolving Delaware Corporations; No Receiver Appointed 10 Years after Dissolution and No Claims Allowed after 10 Years
Posted on 7 Feb 2013 by Francis G.X. Pileggi

In the Matter of Krafft-Murphy Company, Inc. , C.A. No. 6049-VCP (Del. Ch. Feb. 4, 2013). Issue Addressed This case addresses a question of first impression in Delaware: Whether a receiver should be appointed more than 10-years after the dissolution... Read More

Delaware Court of Chancery Orders Dissolution of LLC of Famous Handyman, Based on "Not Reasonably Practicable" Standard
Posted on 8 Oct 2010 by Francis G.X. Pileggi

Vila v. BVWebTies LLC, C.A. No. 4308-VCS (Del. Ch. Oct. 1, 2010), read opinion here . Brief Overview This opinion adds needed depth to the case law on Section 18-802 of the Delaware LLC Act which allows a member of an LLC to seek dissolution when... Read More