Xcell Energy & Coal Co., LLC v. Energy Inv. Group, LLCAnnotate this Case
Xcell Energy and Coal Company, LLC (Xcell) defaulted on its loan obligations to a creditor. Through a court-appointed receiver, Xcell alleged that its past manager and member were liable for their mismanagement and misconduct that allegedly caused the defaults. Xcell asserted claims for breach of fiduciary duty and waste against Energy Investment Group (EIG) and Polo Investments, LLC (Polo) and for aiding and abetting, tortious interference with a contract, and waste against Edmod DiClemente (together with EIG and Polo, the Moving Defendants). The Moving Defendants filed a motion to dismiss for failure to state a claim. The Court of Chancery granted the Moving Defendants’ motion to dismiss for failure to allege the requisite elements to state a claim against the Moving Defendants.