The plain language of Section 18-802 of the Delaware LLC Act provides that “member[s] and manager[s]” have statutory authority to petition for dissolution of a Delaware limited liability company “whenever it is not reasonably practicable to carry on the business in conformity with a limited Continue Reading
Delaware Chancery Ruling Offers 171 Million Reasons to Address Inherent Conflicts of Interest in Delaware Limited Partnerships
Delaware law provides that (except for the covenant of good faith and fair dealing) duties, including fiduciary duties, may be “expanded or restricted or eliminated by provisions in the partnership agreement” (6 Del. C. §17-1101(d)). A recent opinion issued by the Delaware Court of Continue Reading
The Future of Trade with Cuba
On January 16, 2015, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a final rule amending the Cuban Assets Control Regulations to implement policy changes announced by President Obama a month earlier. The amendments eased travel to Cuba for authorized purposes, raise Continue Reading
Lending to Restaurants Pitfalls in Perfecting Security Interests
Dishing Up Directors & Officers Insurance Coverage for Foodborne Illness
Directors & Officers coverage for wrongful acts by a company’s officers and directors can play an important role in defending litigation over foodborne illness, particularly in cases implicating the responsible corporate officer doctrine and wire fraud, attorney J. Wylie Donald said. In this Continue Reading
A Warning to 401(k) Plan Sponsors Relying on Third-Party Administrators (TPAs)
Even When Using TPAs, You Are Still Responsible for Proper Administration and Recordkeeping of Hardship Distributions and Loans A recent news bulletin from the IRS serves as a cautionary reminder that plan sponsors retain responsibility for the proper administration of participant hardship Continue Reading
Supreme Court Seals Tight a Trademark Trial and Appeal Board Decision
In a recent case that will raise the stakes for companies involved in contentious administrative trademark proceedings, the U.S. Supreme Court held that the administrative tribunal, the Trademark Trial and Appeal Board (TTAB), may make decisions which are binding on the parties and courts in later Continue Reading
Tips for Trying Your 1st Patent Infringement Case
The vast majority of patent cases settle before trial ever begins. This results in many patent litigators rarely, if ever, having an opportunity to present a case at trial. For those patent litigators who are among the lucky few and end up in the courtroom, here are five tips to keep in mind, says Continue Reading
New Pipeline Safety Rules: What You Need to Know
Executive Summary New regulations for pipeline construction, safety and transportation issued by the Pipeline and Hazardous Materials Safety Administration (PHMSA), which is an agency of the Department of Transportation (DOT), will become effective October 1, 2015. The hodgepodge of miscellaneous Continue Reading
Ten Pillars to a Productive Mediation: An Attorney’s Guide
Mediation of disputes is growing, as more courts looking to clear congested dockets suggest or command mediation during the course of a litigation, and more parties wary of the cost, time, uncertainty, and publicity of a lawsuit seek a quicker and less expensive alternative. To execute these Continue Reading