Under both New York and Delaware law, members of an LLC may petition for judicial dissolution on the grounds that the management is so hopelessly deadlocked that the LLC can no longer function in ...

How to dissolve an LLC Once a business owner decides to go out of business, they may not be enthusiastic about taking the time to wrap things up properly. But filing paperwork with the state and ...

Should you need to shutter your business, dissolving your LLC is a major part of closing down your operations. Going through the proper dissolution steps can protect you from potential liabilities. In ...

Delaware Chancery Court’s contractarian approach to all things LLC, embedded statutorily in Section 18-1101(b) of the Delaware LLC Act (“It is the policy of this chapter to give the maximum effect to ...

The limited liability company, a legal business structure under state laws, offers favorable features of both the corporation and partnership structures. Dissolution, which often is voluntary, is the ...

Once a business owner decides to go out of business, they may not be enthusiastic about taking the time to wrap things up properly. But filing paperwork with the state and notifying creditors are ...