Statutes governing a limited liability company set forth the rights of an expelled member, which no provision in the parties’ operating agreement altered only by adding specified payments. But nothing showed that those payments were in lieu of rights under the statutes, or the operating agreement, and they did not support an accord and satisfaction. Circuit court did not err in considering related portions of operating agreement. Appellants did not show that circuit court erred in determining LLC’s value, as an amount distinct from its net worth, and the circuit court’s credibility determinations are due deference on appeal. Circuit court did not err in awarding punitive damages and attorney fees.
STEVEN CHADWICK, Respondent vs. ROBERT HUNTOON and GEORGE SWEARENGIN, Appellants
Missouri Court of Appeals, Southern District – SD36850
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