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State court of last resort · ST-VA-SC
Remora Investments v. Orr
No. 080313Supreme Court of Virginia
080313 Remora Investments v. Orr 02/27/2009 In considering a suit brought by a member of a limited liability company as a direct action against the manager for alleged breach of a fiduciary duty, nothing in th…
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080313 Remora Investments v. Orr 02/27/2009 In considering a suit brought by a member of a limited liability company as a direct …
- Court
- Supreme Court of Virginia
- First seen
- Oct 4, 2026
- Last entry
- Feb 27, 2009
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080313 Remora Investments v. Orr 02/27/2009 In considering a suit brought by a member of a limited liability company as a direct action against the manager for alleged breach of a fiduciary duty, nothing in the statutes relating to limited liability companies provides for fiduciary duties between members or between a member and a manager. Analogous case law relating to corporations does not impose such duties, and the operating agreement of the present limited liability company does not create such duties. Accordingly, the trial court did not err in dismissing the member's complaint because it did not have standing to bring a direct action instead of a derivative proceeding on behalf of the…
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