The letter opinion in Tulum Management USA LLC v. Casten, Case No. 11321-VCN (Del. Ch. Dec. 23, 2015), granting advancement and fees-on-fees follows the Delaware Court of Chancery’s Nov. 20, 2015, opinion declining to stay the advancement portion of this case in favor of a first-filed Illinois action.
RED Parent LLC’s operating agreement provided it would “indemnify each manager for all costs, losses, liabilities and damages paid or incurred by such person in connection with the business of [the LLC] to the fullest extent provided or permitted by the [Delaware LLC] Act and the other laws of the state of Delaware.” Pursuant to that provision, RED Parent manager George Polk sought advancement for expenses incurred in the Illinois action.
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