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IN RE SENECA INVESTMENTS LLC

Civil Action No. 3624-CC.

970 A.2d 259 (2008)

In re SENECA INVESTMENTS LLC. Seneca Investments LLC, Counterclaim Plaintiff, v. Michael P. Tierney, Counterclaim Defendant. Seneca Investments LLC, Third-Party Plaintiff, v. PGNT Management LLC and Nikita Group LLC, Third-Party Defendants.

Court of Chancery of Delaware.

Decided: September 23, 2008.

Attorney(s) appearing for the Case

David L. Finger, of Finger & Slanina LLC, Wilmington, Delaware, Attorney for Plaintiff.

J. Travis Laster, Matthew F. Davis, and Eric D. Selden, of Abrams & Laster LLP, Wilmington, Delaware, Attorneys for Defendant.

OPINION

CHANDLER, Chancellor.

Before me is a motion for judgment on the pleadings filed by respondent Seneca Investments, LLC ("Seneca" or the "Company") in response to a petition for dissolution. Petitioner, the former Chief Executive Officer of Seneca, Michael P. Tierney, is seeking judicial dissolution of Seneca, which is in turn pursuing counterclaims against Tierney. Petitioner argues that the Court of Chancery should decree dissolution of Seneca...

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