Delaware Court of Chancery, left, on The Circle in Georgetown, Delaware. Credit: Antony-22 via Wikimedia Commons Chancery Decision Reaffirms 2 Principles of Del. Alternative Entity and Contract Law
Vice Chancellor Lori Will's recent post-trial decision in Avgiris Brothers v. Bouikidis is a useful reminder of the benefits of a well-drafted LLC agreement and reaffirmed two bedrock principles of Delaware alternative entity and contract law—parties are given wide latitude to order their affairs through a LLC agreement and that Delaware courts will strictly construe the language of those agreements.
October 19, 2022 at 09:00 AM
6 minute read
Corporate Entities
Vice Chancellor Lori Will's recent post-trial decision in Avgiris Brothers v. Bouikidis, C.A. No. 2021-0741-LWW, 2022 Del. Ch. LEXIS 282 (Del. Ch. Sept. 30, 2022), is a useful reminder of the benefits of a well-drafted LLC agreement and reaffirmed two bedrock principles of Delaware alternative entity and contract law—parties are given wide latitude to order their affairs through a LLC agreement and that Delaware courts will strictly construe the language of those agreements.
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