Richards Layton & Finger

Recent Case Law Developments Relating to Delaware's Alternative Entities


The Delaware courts have addressed a number of significant issues over the past year relating to alternative entities formed under the Delaware Revised Uniform Limited Partnership Act (the “LP Act”) and the Delaware Limited Liability Company Act (the “LLC Act”). Some of the areas addressed by the courts include fiduciary duties, the inspection of books and records, the applicability of the statute of frauds, indemnification, judicial dissolution, and various procedural issues. This article discusses these cases and their practical effects on the use of Delaware alternative entities.

This article originally appeared in Vol. 11 No. 2 of the Delaware Law Review, published by the Delaware State Bar Association. Copyright © Delaware State Bar Association 2010.  All rights reserved. Reprinted with permission.