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Summaries and analysis of recent Delaware court decisions concerning business-related litigation.
Morris James Blogs
Court of Chancery Addresses Claims Involving Distributions In The Alternative Entity Context
The case involves the issuance of certain convertible units offered to some, but not all, the limited partnership unitholders, and whether that offering and subsequent issuance violated provisions of the partnership agreement concerning distributions. While the Court of Chancery was unable to resolve the parties’ competing theories on summary judgment, the decision offers insight into how the Court will examine contractual distribution related claims in the alternative entity context.