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Summaries and analysis of recent Delaware court decisions concerning business-related litigation.
Morris James Blogs
Court of Chancery Explains When to Dissolve an LLC
Under Section 18-802 of the Delaware LLC Act, the Court of Chancery may dissolve an LLC when it is “not reasonably practical” for it to carry on its business in conformity with its LLC agreement. This decision explains when that might occur, such as when the defined purpose becomes impossible to fulfill.