Plaintiff owned two-thirds of the membership interest and agreed to co-manage the subject LLC with defendant who held the other third. Plaintiff alleged that defendant had instead unilaterally managed the LLC. Plaintiff alleged that defendant breached the LLC’s operating agreement ...

Tagged with: LLC

We affirm the Business Court’s decision (Even though the defendant-limited liability company’s operating agreement required a certain procedure for the LLC to repurchase one class of its equity units, plaintiffs waived their rights to such a procedure in the agreements ...

Tagged with: LLC

Plaintiff NAMS Holdings, LLC, alleges that the individual defendants learned of plaintiff’s contract with CMS Processing by virtue of defendants’ status as members of plaintiff; as a result, the terms of plaintiff’s operating agreement entitle defendants to advancement of the ...

Tagged with: LLC

Richardson v. Kellar (Lawyers Weekly No. 020-110-17, 16 pp.) (Adam Conrad, J.) 2017 NCBC 108 Holding: Defendant Transworld Medical Devices, LLC’s (TW Devices’) operating agreement does not expressly delegate authority to defendant Kellar – as president – to vote TW ...

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Chisum v. Campagna (Lawyers Weekly No. 020-103-17, 33 pp.) (Gregory McGuire, J.) 2017 NCBC 100 Holding: Plaintiff sufficiently alleges breach of fiduciary duty and constructive trust in his claims that the individual defendants funneled money out of the nominal defendant ...

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Pure Body Studios Charlotte, LLC v. Crnalic (Lawyers Weekly No. 020-100-17, 28 pp.) (Michael Robinson, J.) 2017 NCBC 96 Holding: Defendant Crnalic seeks judicial dissolution of the plaintiff-limited liability company because (1) the LLC – formed to operate a gym ...

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Azure Dolphin, LLC v. Barton (Lawyers Weekly No. 020-094-17, 26 pp.) (Adam Conrad, J.) 2017 NCBC 88 Holding: Plaintiff Boespflug pledged his interest in two North Carolina companies to his attorneys, and the attorneys exercised their right to obtain possession ...

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Wirth v. Sunpath, LLC (Lawyers Weekly No. 020-089-17, 18 pp.) (Michael Robinson, J.) 2017 NCBC 82 Holding: Even though Successions, LLC, was administratively dissolved in 2015, the dissolution of an LLC does not prevent the commencement of a proceeding by ...

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Strategic Management Decisions, LLC v. Sales Performance International, LLC (Lawyers Weekly No. 020-075-17, 15 pp.) (Adam Conrad, J.) 2017 NCBC 68 Holding: Although plaintiff owns only a 40 percent interest in the limited liability company formed by plaintiff and defendant ...

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Chisum v. Campagna (Lawyers Weekly No. 020-068-17, 24 pp.) (Gregory McGuire, J.) 2017 NCBC 61 Holding: Since plaintiffs are not required to allege or prove that a traditional cause of action exists against defendants in order to establish an actual ...

Tagged with: LLC