Kevin Debbs and Liberty National Trust v. CDK Fund I SPV LLC, CDK Capital Partners I LLC, Cody Kerns, and Essential Fund Services International, LLC

Summary

The United States District Court for the District of Delaware denied Plaintiffs Kevin Debbs and Liberty National Trust’s motion for reargument or reconsideration. The court held that a broad forum-selection clause in the CDK Fund I, LP limited partnership agreement applied to Plaintiffs’ claims and required the action to remain in Delaware after transfer from the Middle District of Florida.

Holdings

1. Plaintiffs were not entitled to reconsideration because they identified no intervening change in controlling law, newly available evidence, clear error of law or fact, or manifest injustice.
2. The forum-selection clause was valid, applied to plaintiffs' claims, and bound plaintiffs to litigate in Delaware.
3. Retransfer was unwarranted, and plaintiffs forfeited any argument that transfer to Delaware was improper after the court found the forum-selection clause valid and applicable.

Questions Presented

1. Whether plaintiffs established a basis for reconsideration or reargument under Federal Rule of Civil Procedure 59(e).
2. Whether the broad forum-selection clause in the CDK LP limited partnership agreement applied to plaintiffs' claims concerning the transfer of their investments to CDK SPV.
3. Whether the case should be retransferred from the District of Delaware to the Middle District of Florida.

Disposition

other