Do Members of LLCs Owe A Fiduciary Duty To Each Other in CT?
A limited liability company is essentially a combination or mix of a corporation and a partnership. The LLC as an entity provides the flexibility of a partnership with the ability to govern and create ownership interests similar to a corporation. The legislature codified the framework for LLCs in Connecticut in Title 34, Chapter 613 of […]
No Contract, No Problem – Charter Oak Gets A Chance To Prove Its Case
In a decision that will be officially release tomorrow (download)the Connecticut appellate court ordered a new trial in favor of Charter Oak Lending for the claims it brought against employees who defected to a competitor. Unless there is a successful appeal to the Connecticut Supreme Court, this means Charter Oak will get a second chance to prove its claims against the key employees despite […]
Constructive Trusts In Connecticut For Fraud and Unjust Enrichment
In business litigation in Connecticut, attorneys many times seek to impose a constructive trust over assets or income connected to wrong doing, breach of fiduciary duty, or fraud by business partners or agents. In a decision to be officially released on November 23, 2010, the Appellate Court upheld a trial court’s imposition of a constructive trust over […]