MEMBER DISCRETION VS. THE IMPLIED COVENANT

Under the link below is an excellent post about a recent decision of the Delaware Court of Chancery employing the implied contractual covenant of good faith and fair dealing to limit the discretion of one member of a Delaware LLC in taking actions affecting a co-member.

Here’s the link:

https://www.klgatesdelawaredocket.com/2019/07/court-of-chancery-finds-that-the-implied-contractual-covenant-of-good-faith-and-fair-dealing-requires-delaware-llc-to-exercise-discretion-in-good-faith/