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Delaware Court of Chancery Orders Dissolution of LLC of Famous Handyman, Based on "Not Reasonably Practicable" Standard

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 it is not "reasonably practicable" to continue...

Chancery Addresses Two Methods for Dissolving Delaware Corporations; No Receiver Appointed 10 Years after Dissolution and No Claims Allowed after 10 Years

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 of a Delaware corporation when the dissolved...