Thoughtful Article on Status of Delaware Good Faith and Fair Dealing Claims in Alternative Entries
Since many LLC agreements restrict the fiduciary duty owed to investors in one way or another, it's important to understand the part of Delaware law that can't be waived: the good faith and fair dealing requirements. The problem is Delaware case law is hard to decipher. Here's a good summary of the current state of the law written by Edward M. McNally. This commentator believes the unwaiveable good faith standards will permit Courts to redress "plainly abusive" conduct toward investors.
PartnerTom represents owners, operators and developers in the acquisition, financing, development, ground leasing, and sale of significant properties. His experience includes office towers, commercial condominiums, industrial ...