Publication Date: 2024-12-03
Practice Area: Corporate Governance
Industry: Financial Services and Banking | Investments and Investment Advisory | Real Estate
Court: Court of Chancery
Judge: Vice Chancellor Zurn
Attorneys: For plaintiff: Jesse L. Noa, Charles R. Hallinan, Potter Anderson & Corroon LLP, Wilmington, DE; Aaron L. Casagrande, Michael P. Collins, Jr., Aaron A. Nichols, Ice Miller LLP, Baltimore, MD; John D. French, Ice Miller LLP, Indianapolis, IN for plaintiff.
for defendant: Steven L. Caponi, Michael J. Vail, K&L Gates LLP, Wilmington, DE; Kartik R. Singapura, Nathan Cox, Mason G. Jones, Laura K. Lavernia, Bell Nunnally & Martin LLP, Dallas, TX for defendants.
Case Number: 2024-0653-MTZ
LLC member had contractual right to withhold its consent to loan modification, such that the company's default under the loan entitled member to remove and replace managing member under the terms of the operating agreement.