Thompson v. ORIX USA Corp.

The court addressed the claim for advancement of expenses relating to the Preston Hollow Action. Both parties moved for summary judgment regarding advancement under the ORIX USA Charter, while only defendants have moved for summary judgment regarding the LLC Agreement. The court concluded that plaintiffs are entitled to advancement under the ORIX USA Charter for the expenses they incur based on their involvement in the Preston Hollow Action, but these expenses should not include any of Preston Hollow’s own litigation costs. In regard to the LLC Agreement, plaintiffs have raised a genuine question of fact as to whether they are threatened to be named defendants. Therefore, defendants’ motion for summary judgment must be denied. Decision is reserved on both parties’ motions regarding advancement for the withdrawn declaratory judgment claims in the Dallas Actions. View "Thompson v. ORIX USA Corp." on Justia Law