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DV REALTY ADVISORS LLC v. POLICEMEN'S ANNUITY

No. 547, 2012.

75 A.3d 101 (2013)

DV REALTY ADVISORS LLC, Defendant Below, Appellant, v. POLICEMEN'S ANNUITY AND BENEFIT FUND OF CHICAGO, Illinois, Municipal Employees' Annuity and Benefit Fund of Chicago, Laborers' and Retirement Board Employees' Annuity and Benefit Fund of Chicago, Retirement Plan for Chicago Transit Authority Employees' Trust, and Public School Teachers' Pension and Retirement Fund of Chicago, Plaintiffs Below, Appellees.

Supreme Court of Delaware.

Decided: August 26, 2013.

Attorney(s) appearing for the Case

Richard L. Renck, Esquire and Andrew D. Cordo, Esquire , Ashby & Geddes, Wilmington, Delaware, Edward T. Joyce, Esquire and Robert Carroll, Esquire , Edward T. Joyce & Associates, P.C., Chicago, Illinois, for appellant.

Bradley R. Aronstam, Esquire and S. Michael Sirkin, Esquire , Seitz, Ross, Aronstam & Moritz, LLP, Wilmington, Delaware, and William Lynch Schaller, Esquire , John M. Murphy, Esquire and Peter P. Tomczak, Esquire , Baker & McKenzie, LLP, Chicago, Illinois, for appellees.

Before STEELE, Chief Justice, HOLLAND, BERGER, JACOBS and RIDGELY, Justices (constituting the Court en Banc).

HOLLAND, Justice:

The defendant-appellant, DV Realty Advisors LLC ("DV Realty"), appeals from the Court of Chancery's declaratory judgment that the plaintiffs-appellees1 properly removed DV Realty as the General Partner of Chicago-based Delaware limited partnership DV Urban Realty Partners I L.P. (the "Limited Partnership").

DV Realty raises two issues on appeal: first, that the Court of Chancery improperly found that the Limited...

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