James H.Q. Davis Tr. v. JHD Props., LLC

Summary

The North Carolina Supreme Court affirmed the Business Court’s summary‑judgment order granting judicial dissolution of two manager‑managed LLCs, holding that the deadlocked managers made continued operation of the LLCs “not practicable.” The Court defined the statutory term “not practicable” as synonymous with “unfeasible” and applied a multi‑factor analysis to determine that the managers could not feasibly operate the entities in accordance with their operating agreements.