Delaware Chancery Court Imposes Fiduciary Duties on Members of Limited Liability Companies | Practical Law

Delaware Chancery Court Imposes Fiduciary Duties on Members of Limited Liability Companies | Practical Law

An update on the Delaware Chancery Court's opinion in Bay Center Apartments Owner, LLC v. Emery Bank PKI, LLC, et. al. holding that, among other things, the manager of a limited liability company (LLC) may owe traditional fiduciary duties of loyalty and care to the members of the LLC.

Delaware Chancery Court Imposes Fiduciary Duties on Members of Limited Liability Companies

by PLC Corporate & Securities and PLC Finance
Published on 22 Apr 2009 • Delaware, USA (National/Federal)
An update on the Delaware Chancery Court's opinion in Bay Center Apartments Owner, LLC v. Emery Bank PKI, LLC, et. al. holding that, among other things, the manager of a limited liability company (LLC) may owe traditional fiduciary duties of loyalty and care to the members of the LLC.