Court of Chancery Dismisses Limited Liability Partnership Act Suit
This decision deals with a hole in Delaware jurisprudence. Generally, the statutes authorizing each form of Delaware entity contain a provision whereby the managers of that entity submit themselves to the jurisdiction of the Delaware courts for acts in their managerial capacity. But, as this decision points out in dismissing the complaint for want of personal jurisdiction over the defendants, that is not the case under the Delaware limited liability partnership statute. This seldom used act may need to be amended as a result.