Court of Chancery Refuses Dissolution of LLC

Posted on September 23, 2008 by Edward M. McNally
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In re Seneca Investment LLC, C.A. 3624-CC (Del. Ch. Sept. 23, 2008)

This decision applies the corporate law rule that the Court of Chancery will not dissolve a solvent entity except for extraordinary reasons. Merely acting as a holding company without an active business is not even close to good enough to warrant dissolution.

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