Limited Partnerships / LLCs

Delaware - Limited Partnerships Title 6 Chapter 17

Statutory provisions

§§ 101 - 111 General provisions
§§ 201 - 219 Formation; Limited Partnership Certificate
§§ 301 - 306 Limited Partners
§§ 401 - 407 General Partners
§§ 501 - 505 Finance
§§ 601 - 608 Distributions and Withdrawal
§§ 701 - 705 Assignment of Partnership Interests
§§ 801 - 806 Dissolution
§§ 901 - 912 Foreign Limited Partnerships
§§ 1001 - 1004 Derivative Actions
§§ 1101 - 1111 Miscellaneous

Delaware - Limited Liability Companies Title 6 Chapter 18

Statutory provisions

§§ 101 - 111 General provisions
§§ 201 - 219 Formation; Certificate of Formation
§§ 301 - 306 Members
§§ 401 - 407 Managers
§§ 501 - 505 Finance
§§ 601 - 608 Distributions and Resignation
§§ 701 - 705 Assignment of LLC Interests
§§ 801 - 806 Dissolution
§§ 901 - 912 Foreign Limited Liability Companies
§§ 1001 - 1004 Derivative Actions
§§ 1101 - 1111 Miscellaneous

Recent Notable Delaware Cases

In re Silver Leaf LLC (Del Ch 2005)

Opinion
Plaintiff sought to dissolve LLC over deadlock
Defendant resisted, alleging breach of contract and other claims
Court dissolves LLC

Albert v Alex Brown Management Services

Exchange funds
Opinion

In re LJM2 Co-Investment, LP (Del Ch 2004)

Suit to compel limited partners to honor their capital obligations
Survives motion to dismiss

Blackmore Partners, LP v Link Energy LLC (Del Ch 2004)

Denies defendant's motion to dismiss
Plaintiff claims that directors breached their duty of loyalty
by selling LLC's assets
Sale rendered plaintiff's units worthless

Interactive v Vivendi Universal (Del Ch 2004)

Per the limited partnership agreement, holder of preferred interests was entitled to tax distributions
Which provided cash to pay taxes on income allocations
Grants motion for judgment on the pleadings

Related Topics

Limited Partnership Roll-ups

Clear Gif