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ELF ATOCHEM N. AMERICA, INC. v. JAFFARI

No. 269, 1998.

727 A.2d 286 (1999)

ELF ATOCHEM NORTH AMERICA, INC., a Pennsylvania corporation, Plaintiff Below, Appellant, v. Cyrus A. JAFFARI and Malek LLC, a Delaware limited liability company, Plaintiffs Below, Appellees.

Supreme Court of Delaware.

Decided: April 6, 1999.

Attorney(s) appearing for the Case

Cathy L. Reese of Blank, Rome, Comisky & McCauley, LLP, Wilmington; Ann B. Laupheimer, pro hac vice (argued) and Mary Ann Mullaney, pro hac vice, of Blank, Rome, Comisky & McCauley, LLP, Philadelphia, Pennsylvania, for appellant.

Edward B. Maxwell, 2nd, (argued), James P. Hughes, Jr., and Christian Douglas Wright of Young, Conaway, Stargatt & Taylor, LLP, Wilmington, for appellees.

Before VEASEY, Chief Justice, WALSH and BERGER, Justices.

VEASEY, Chief Justice:

This is a case of first impression before this Court involving the Delaware Limited Liability Company Act (the "Act"). The limited liability company ("LLC") is a relatively new entity that has emerged in recent years as an attractive vehicle to facilitate business relationships and transactions. The wording and architecture of the Act is somewhat complicated, but it is designed to achieve what is seemingly...

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