Finding that sometimes “a lie is just a lie,” the Delaware Chancery Court, in an opinion deciding a dispute between rival Italian grocers in Rehoboth Beach, Del., reinforced the principle that Delaware LLC law is “contractarian” and held that the plain meaning of an operating agreement trumped claims stemming from a “lie” by a withdrawing member of an LLC.
The dispute in Touch of Italy Salumeria & Pasticceria v. Frank and Louie’s Italian Store, C.A. No. 8602-VCG (Del. Jan. 13, 2014), arose from the withdrawal by Louis Bascio as a member of the Touch of Italy Salumeria & Pasticceria LLC, and his subsequent opening of a competing Italian deli and grocery store, Frank and Louie’s Italian Store on the same block as Touch of Italy.
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