Can you have a default entered against you if you aren’t a proper party to the lawsuit? The answer is yes, at least on the unique facts before the Business Court in its opinion Friday in the derivative action Regional Property Development Corp. v. Carpenter.
Regional Property, a member of Lancaster Industrial Park, LLC, had filed a derivative action on behalf of the LLC against three other members of Lancaster, and also the lender to the LLC, Regions Bank.
In a March 25th Order, the Business Court dismissed
Continue Reading Default Entered Against LLC Even Though Its Derivative Action Had Been Dismissed