Corinne Ball, with Jones Day. Courtesy photo Creditor Remedies Prevail in Delaware
This article addresses how a Creditor's Committee may sue members of an LLC, despite Delaware law limitations, and how prebankruptcy exercise of proxy rights in reliance on Delaware law are upheld in a subsequent bankruptcy case.
February 21, 2024 at 09:54 AM
12 minute read
Bankruptcy
Delaware law pervades bankruptcy proceedings often exploring what may be a conflict between the rights of an equity holder and the limitations on the exercise, or purported exercise, of creditor remedies. Recent decisions out of the Bankruptcy Court in the District of Delaware demonstrate this crossover.
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