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SANDERS v. OHMITE HOLDING, LLC

C.A. No. 5145-VCL.

17 A.3d 1186 (2011)

Max SANDERS, Plaintiff, v. OHMITE HOLDING, LLC, a Delaware limited liability company, Defendant.

Court of Chancery of Delaware.

Decided: February 21, 2011.

Attorney(s) appearing for the Case

Robert K. Beste, III , Smith, Katzenstein & Jenkins LLP, Wilmington, Delaware; Robert J. Zaideman , Zaideman & Esrig, P.C., Chicago, Illinois; Attorneys for Plaintiff.

Bruce E. Jameson , Tanya E. Pino , Prickett Jones & Elliott P.A., Wilmington, Delaware; Amy G. Doehring , McDermott Will & Emery LLP, Chicago, Illinois; Attorneys for Defendant.

OPINION

LASTER, Vice Chancellor.

Plaintiff Max Sanders seeks books and records from Ohmite Holding, LLC ("Ohmite" or the "Company"), pursuant to Section 18-305 of the Delaware Limited Liability Company Act (the "LLC Act"), 6 Del. C. § 18-305. When the Company was formed, Sanders loaned $2 million to one of its members and received a security interest in the member's units as collateral. In February 2007, the member transferred his remaining...

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