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Court Of Chancery Denies Receiver for LLC

Posted In LLC Agreements
Ross Holding and Management Company v Advance Realty Group LLC. , C.A. 4133-VCN (September 2, 2010) This decision affirms the power of the Court of Chancery under its equitable jurisprudence to appoint a receiver pendente lite for an LLC, even when the LLC agreement does not so provide.  Of course, as here, this drastic remedy is not to be used when the facts are in dispute.