"Judicial Dissolution: Are the Courts of the State that Brought You In the Only Courts that Can Take You Out?" discusses whether a state court can judicially dissolve an entity formed under the laws of another state. The recent dissolution of Interstate General Media, LLC, the limited liability company that owned The Philadelphia Inquirer, the Philadelphia Daily News, and the website philly.com, brought to light the issue of which court should hear the request for dissolution after two simultaneous actions were filed in the Commerce Court of the Philadelphia Court of Common Pleas and the Court of Chancery of the State of Delaware. The article analyze the historical attitude toward dissolution of domestic entities and why dissolution is different from other types of claims.
October 13, 2015
Morris James LLP
American Bar Association, Section of Business Law, The Business Lawyer