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NAMA HOLDINGS v. RELATED WORLD MARKET CTR.

C.A. Nos. 2755-VCL, 2756-VCL.

922 A.2d 417 (2007)

NAMA HOLDINGS, LLC, Plaintiff, v. RELATED WORLD MARKET CENTER, LLC and World Market Center Venture, LLC, Defendants. NAMA Holdings, LLC, Plaintiff, v. World Market Center Venture, LLC, Defendant.

Court of Chancery of Delaware, New Castle County.

Decided: April 27, 2007.

Attorney(s) appearing for the Case

Michael D. Goldman, Stephen C. Norman, Abigail M. LeGrow, Potter Anderson & Corroon, Wilmington, DE; Howard J. Rubinroit, Ronald C. Cohen, Sidley Austin, LLP, Los Angeles, CA, for NAMA Holdings, LLC.

Martin P. Tully, Kevin M. Coen, Morris Nichols Arsht & Tunnell, LLP, Wilmington, DE; Stacie E. Tobin, Jennifer M. Skaggs, DLA Piper US, LLP, Baltimore, MD, for Related World Market Center, LLC.

Gregory P. Williams, Daniel A. Dreisbach, Lisa Zwally Brown, Richards, Layton & Finger, P.A., Wilmington, DE; Leslie D. Corwin, Sophia Tsokos, Greenberg Traurig, LLP, New York City, for World Market Center Venture, LLC.

OPINION

LAMB, Vice Chancellor.

A limited liability company, acting in its capacity as an express third-party beneficiary, sues one of the managers of an entity in which it owns an indirect interest, as well as the entity itself, to enforce contractual provisions drafted for the LLC's benefit in the entity's operating agreement. The entity and its manager move to dismiss or stay the LLC's claims, relying primarily on certain arbitration clauses contained...

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