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Creditors of LPs or LLCs Can’t Sue for Breach of Fiduciary Duty

Creditors lack standing in Delaware and other states for derivative liability suits against officers and managers of LPs and LLCs.

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Opinion Link

Case Details

Judge Name

Kevin J. Carey

Case Citation

Gavin/Solmonese LLC v. Citadel Energy Partners LLC (In re Citadel Watford City Disposal Partners LP), 17-50024 (Bankr. D. Del. May 2, 2019)

Case Name

In re Citadel Watford City Disposal Partners LP

Case Type

Business