The Delaware Court of Chancery, in SolarReserve CSP Holdings, LLC v. Tonopah Solar Energy, LLC, et al., C.A. No. 2019-0791-JRS, memo. op. (Del. Ch. Mar. 18, 2020), found that an indirect LLC equityholder that voluntarily traded away a controlling interest in the entity and did not bargain for a contractual dissolution right in the LLC Agreement was not entitled to equitable dissolution.
NEW: Francis Pileggi discussed the decision in Issue of Equitable Dissolution of LLC Analyzed.
Skadden Arps discusses the decision in Delaware Supreme Court Upholds Validity of Provisions Designating Federal Courts as Exclusive Forum of 1933 Act Claims.