Schrage v. Schrage

Holding

The court held that the Superior Court possessed fundamental subject‑matter jurisdiction over the buy‑out proceeding and the alternative decree ordering dissolution of the five additional limited‑liability companies, rendering the decree voidable—not void—and that Michael and Joseph Schrage are estopped from collaterally attacking it. Conversely, the court held that Leonard Schrage lacked standing to pursue his breach‑of‑fiduciary‑duty claim as an individual because the alleged breaches were directed at the entities, rendering the claim derivative; consequently, the award of compensatory and punitive damages was reversed. ---