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Corinne Ball is a partner at Jones Day. Corinne Ball

Judge Karen B. Owens recently issued a decision on derivative standing in the bankruptcy of a limited liability company. The decision applied a Delaware Code provision that allows only an LLC member or its assignee to bring derivative claims on behalf of the LLC to deny standing to a creditors’ committee to bring derivative claims on behalf of the debtor in In re Dura Automotive Systems, LLC, No. 19-12378 (Bankr. D. Del. June 9, 2020). In this case, the Committee, neither a member or a member’s assignee, could not bring claims on the debtors’ behalf following the LLC debtors’ waiver and release of claims.

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