The Delaware Court of Chancery has awarded $211,038 in attorney fees to plaintiffs counsel in a recent dispute to determine the control of a limited liability company. It is said to be the first time the court has awarded attorney fees under Title 6, Section 18-1004 of the Delaware Code, which permits the court to award such fees in derivative litigation brought under Delaware’s LLC Act, according to attorneys involved in the case.
Vice Chancellor J. Travis Laster awarded the fees in a recent bench ruling inFeeley v. NHAOCG LLC . The case is well known because, in his opinion, the vice chancellor entered the debate over whether the LLC Act imposes default fiduciary duties on the managers of such entities. Laster sided with Chancellor Leo E. Strine Jr. that the statute does, in fact, impose default fiduciary duties.
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