LCT CAPITAL, LLC v. NGL ENERGY PARTNERS LP

Nos. 565, 2019, 568, 2019.

249 A.3d 77 (2021)

LCT CAPITAL, LLC, Appellant/Cross-Appellee, Plaintiff below, v. NGL ENERGY PARTNERS LP and NGL Energy Holdings LLC, Appellees/Cross-Appellants, Defendants below.

Supreme Court of Delaware.

Decided: January 28, 2021.

Corrected: March 4, 2021.


Attorney(s) appearing for the Case

Steven L. Caponi, Esquire , K&L GATES, LLP, Wilmington, Delaware; Roger R. Crane, Esquire (argued), and Thomas A. Warns, Esquire , K&L GATES, LLP, New York, New York; for Appellant/Cross-Appellee LCT Capital, LLC.

Steven T. Margolin, Esquire (argued) and Samuel L. Moultrie, Esquire , GREENBERG TRAURIG, LLP, Wilmington, Delaware; Hal S. Shaftel, Esquire (argued), Obiamaka P. Madubuko, Esquire , and Daniel Friedman, Esquire , GREENBERG TRAURIG, LLP, New York, New York; for Appellees/Cross-Appellants NGL Energy Partners LP and NGL Energy Holdings LLC.

Before SEITZ, Chief Justice; VALIHURA, VAUGHN, TRAYNOR, and MONTGOMERY-REEVES, Justices, constituting the Court en Banc.


In 2014, appellant and cross-appellee LCT Capital, LLC ("LCT") helped appellee and cross-appellants NGL Energy Partners, LP and NGL Energy Holdings LLC (collectively, "NGL") acquire TransMontaigne, a refined petroleum products distributor. LCT played an unusually valuable role in the transaction, bringing...

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