A top-notch restructuring group, capable of handling the biggest and the most difficult restructuring from either company side or creditors’ side. 
- Chambers USA, Band 1 Bankruptcy/Restructuring (Nationwide and NY)
Delaware Supreme Court Affirms That Creditors of Delaware LLCs May Not Sue Derivatively
September 12, 2011
On September 2, the Delaware Supreme Court affirmed a holding by the Court of Chancery that creditors of insolvent Delaware limited liability companies do not have standing to sue derivatively. This contrasts with Delaware corporations: the Delaware courts have recognized that when a corporation becomes insolvent, creditors become the residual risk-bearers and are permitted to sue derivatively on behalf of a corporation to the same extent as stockholders. The Delaware Supreme Court, like the Court of Chancery, held that the plain language of the Delaware Limited Liability Company Act ("LLC Act") limits an action to sue derivatively to an LLC's members or their assignees.