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Jonathan Abelmann and Richard B. Greiwe v. Bryan Granum
Citation: Not availableDocket: 12041-VCMR
Court: Court of Chancery of Delaware; November 14, 2016; Delaware; State Appellate Court
Original Court Document: View Document
The Court of Chancery of Delaware issued a Letter Opinion on November 15, 2016, concerning the case of Jonathan Abelmann and Richard B. Greiwe v. Bryan Granum, et al., involving a motion for judgment on the pleadings and a petition for judicial dissolution of NAP Partners, LLC. The Court granted the motion for judgment on the pleadings, confirming that the Petitioners have standing, the Company is at a deadlock, and dissolution is warranted. The Respondents contended that dissolution could prejudice Element NYC, LLC in an ongoing California civil action, and requested postponement of dissolution until that matter is resolved. The Petitioners countered that any delay could adversely affect potential damages in the California case. The Court noted that both parties agreed to conditions limiting the use of the dissolution in the California action. The ruling permits the dissolution of NAP Partners, LLC, under the condition that the Petitioners cannot challenge the validity of the California action or Element’s standing based on the dissolution. However, the Petitioners retain the right to argue about the timing of damages mitigation in the California case. The parties were instructed to submit a joint implementing form of order within ten days.