The state Supreme Court ruled that the Delaware Limited Liability Company Act does not prohibit members of a limited liability company from designating arbitration in another jurisdiction as the sole method of dispute resolution.

The court made the ruling, which affirmed a Chancery Court decision, despite the LLC act which grants jurisdiction to the Court of Chancery. Chief Justice Norman Veasey, who wrote the opinion for the three-judge panel, said the case was one of first impression under the LLC act.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at customercar[email protected]