The Delaware Supreme Court, affirming a prior Chancery Court opinion, has ruled that creditors of insolvent limited liability companies do not have standing to pursue derivative suits.
InCML V LLC v. Bax , the high court upheld a November 2010 ruling by Vice Chancellor J. Travis Laster. Chief Justice Myron T. Steele wrote the opinion on behalf of theen banccourt, which also included Superior Court Judge E. Scott Bradley, who was sitting by designation.
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