Fadal Machining Centers, LLC, and MAG Industrial Automation Centers, LLC, sued a New Jersey based corporation, Mid-

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Fadal Machining Centers, LLC, and MAG Industrial Automation Centers, LLC, sued a New Jersey– based corporation, Mid- Atlantic CNC, Inc., in federal district court. Ten percent of MAG was owned by SP MAG Holdings, a Delaware LLC. SP MAG had six members, including a Delaware limited partnership called Silver Point Capital Fund and a Delaware LLC called SPCP Group III. In turn, Silver Point and SPCP Group had a common member, Robert O’Shea, who was a New Jersey citizen. Assuming that the amount in controversy exceeds $ 75,000, does the district court have diversity jurisdiction? Why or why not?

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Business Law Text and Cases

ISBN: 978-1285185248

13th edition

Authors: Kenneth Clarkson, Roger LeRoy Miller, Frank Cross

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