Delaware Business Litigation Report

Court Of Chancery Declines Stay In LLC Advancement Case

Tulum Management USA LLC v. Casten, C.A. 11321-VCN (November 9, 2015)

A Delaware court will not stay its hand in favor of litigation elsewhere in an advancement or indemnification case absent “exceptional circumstances.” 

This decision applies that law in the novel context of an LLC where the right to advancement is contractual, not based on a statute. The stay was denied.

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