Brinckerhoff v. Enbridge Energy Company, Inc.

SEITZ, Justice:

The plaintiffs, Peter Brinckerhoff and his trust, are long-term investors in En-bridge Energy Partners, L.P. (“EEP”), a Delaware master limited ' partnership (“MLP”). As followers of this investment space know, MLPs are set up in the petroleum transportation business to allow sponsors and public investors to take advantage of favorable tax laws. Another benefit under Delaware law is the ability to eliminate common law duties in favor of contractual ones, thereby restricting disputes to the four corners of the limited partnership agreement (“LPA”).

MLPs are typically families of…