04Aug
Minority Members’ Contractual Blocking Rights Can Result in the Imposition of Fiduciary Duties
In Skye Mineral Investors LLC v. DXS Capital (U.S.) Limited, et al., the Delaware Court of Chancery (the “Court”) denied defendants’ motion to dismiss, finding that plaintiffs had sufficiently pled a breach by the members holding a minority equity interest (the “Minority Members”) in Skye Mineral Partners, LLC (“SMP”) and the manager who the Minority Members appointed to SMP’s board of managers (the “Minority Manager”) of their fiduciary duty of loyalty to SMP and its members. ...
By:
Gray Reed
Related
AB 51 was signed into law on October 10, 2019, and purported to outlaw the use of mandatory arbitrat...
Read More >
Ready or not, it’s time to electronically register for the upcoming H-1B Cap Lottery. The registra...
Read More >
On May 18, 2020, as part of their Reopening Massachusetts Plan, Governor Baker and Lt. Governor Poli...
Read More >
Over the past few months, New York Governor Andrew M. Cuomo signed into law two bills bringing incre...
Read More >
Our latest briefing focused on UK construction disputes summarises recent changes to court procedure...
Read More >
Not since the Great Recession of 2008 has the homebuilding industry faced a challenge like COVID-19....
Read More >