Kelly, Maxwell and O’Toole Present 2021 First State Update on Case Law and Delaware’s LLC Act

Partners Chris Kelly, Mike Maxwell and Matt O’Toole led a webinar hosted by CSC titled “First State Update: 2021 Case Law Developments and Updates to Delaware’s LLC Act.” They shared their insights into the Delaware Limited Liability Company Act, reviewed associated case law, discussed this year’s amendments to the Act, and answers questions on specific LLC-related case law and statutory amendments.

Kelly focuses his practice on complex litigation and counseling matters involving Delaware corporations and alternative entities. His experience includes stockholder class and derivative actions, takeover disputes, limited partnership and limited liability company litigation, internal corporate investigations, buyer/seller disputes, federal securities lawsuits, and statutory proceedings under the Delaware General Corporation Law and alternative entity acts, such as dissolution actions, stock appraisals, indemnification and advancement actions, contested director elections, and demands to inspect books and records.

Maxwell advises clients on matters of Delaware corporate and business law in transactions involving Delaware alternative entities and corporations, including investment and private equity fund transactions, fund formations, joint ventures, cross border transactions, mergers, acquisitions, asset sales and purchases, dissolutions and restructurings. He also represents both lenders and borrowers in a variety of commercial financing transactions, including asset-based financing, real estate mortgage financings and other credit related transactions. He also advises management, boards and special committees of Delaware entities on matters of operation and governance, including with respect to fiduciary duty and contractual interpretation issues. Maxwell provides legal opinions on issues of Delaware law in connection with the foregoing.

O’Toole concentrates his practice on corporate and commercial transactions, particularly the structure and use of Delaware business entities, including corporations, limited liability companies, partnerships (general and limited) and statutory trusts. He often serves as counsel to lenders, borrowers, investors, managers, trustees and other parties involved in both domestic and international business transactions. His practice frequently involves providing third-party legal opinions concerning Delaware’s General Corporation Law, Delaware’s alternative entity statutes, the Delaware UCC and other applicable law. He currently serves as a member, and is a former chair, of the Council of the Corporation Law Section of the Delaware State Bar Association. He is the immediate past chair, and continues to serve as a member, of the bar association drafting committee responsible for the Delaware Limited Liability Company Act, the Delaware Revised Uniform Limited Partnership Act, and the Delaware Revised Partnership Act, and also serves on the committee responsible for the Delaware Statutory Trust Act.

About Potter Anderson

Potter Anderson & Corroon LLP is one of the largest and most highly regarded Delaware law firms, providing legal services to regional, national, and international clients. With more than 100 attorneys, the firm’s practice is centered on corporate law, corporate litigation, intellectual property, commercial litigation, bankruptcy, labor and employment, and real estate.