Sky Harbor Hotel Props., LLC v. Patel Props., LLC (In Re Sky Harbor Hotel Props., LLC)
Arizona Supreme Court
CHIEF JUSTICE BALES authored the opinion of the Court, in which VICE CHIEF JUSTICE BRUTINEL and JUSTICES TIMMER, BOLICK, GOULD, LOPEZ and PELANDER (Retired) joined.
1Opinion of the Court
CHIEF JUSTICE BALES, opinion of the Court:
¶1 These consolidated cases involve alleged breaches of fiduciary duties. To address these claims, the United States Bankruptcy Court for the District of Arizona certified the following questions to this Court:
1. Does a manager of an Arizona limited liability company ("LLC") owe common law fiduciary duties to the company?
2. Does a member of an Arizona LLC owe common law fiduciary duties to the company?
3. Can an Arizona LLC's operating agreement lawfully limit or eliminate those fiduciary duties?
¶2 We answer the first question in the affirmative. We…
2Cases cited8 opinions
- Rawlings v. ApodacaArizona Supreme Court · 1986
- De Santis v. DixonArizona Supreme Court · 1951
- CSA 13-101 Loop, LLC v. Loop 101, LLCArizona Supreme Court · 2014
- Master Records, Inc. v. BackmanArizona Supreme Court · 1982
- Ghiz v. MillettArizona Supreme Court · 1950
3 more not listed; retrieve them via the Exa API.
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- Cramton v. Grabbagreen Franchising LLCDistrict Court, D. Arizona · 2021
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