Chancery Rules that LLC Agreement is Subject to Statute of Frauds, in Issue of First Impression
Olson v. Halvorsen, (Del. Ch., Oct. 22, 2008), read opinion here. The Chancery Court decided an issue of first impression in the context of cross motions for summary judgment in this case: Does the statute of frauds apply to an … Continue reading
Chancery Recites Prerequisites for Preliminary Injunction and Enjoins Arbitration of Claims
In HDS Investment Holding, Inc. v. The Home Depot, Inc., (Del. Ch., Oct. 17, 2008), read opinion here, the Chancery Court (for the second time in about a week in two unrelated cases), decided that the agreement between the parties … Continue reading
Chancery Enjoins Arbitration and Denies Both Interlocutory Appeal and Stay Pending Appeal
In TowerHill Wealth Management, LLC v. The Bander Family Partnership, L.P., (Del. Ch., Oct. 9, 2008), read opinion here, the Chancery Court enjoined the defendant from pursuing arbitration of claims that the court determined should be litigated in Chancery. In … Continue reading
Chancery Grants Motion To Intervene in Contested Stock Issuance Case
Noe v. Kropf, 2008 Del. Ch. LEXIS 148 (Oct. 15, 2008), is a Chancery Court decision that discusses the factors under Chancery Court Rule 24 applicable to a motion to intervene. This case involved a shareholder who sought to intervene because the … Continue reading
Chancery Rejects Request to Appoint Receiver of Dissolved Corp. Pursuant to DGCL Section 279
In the Matter of Dow Chem. Int’l Inc. of Delaware, 2008 Del. Ch. LEXIS 147 (Oct. 14, 2008). The Chancery Court in this opinion rejected a request to appoint a receiver for a dissolved corporation pursuant to Section 279, primarily … Continue reading
Biden and Delaware Corporate Law
Victoria McGrane wrote a timely story yesterday on Politico.com here about the impact on "business friendly Delaware" if Biden wins the VP position. Of course, part of that discussion involves what impact, if any, he would have if he wins, on the ongoing tug-of-war between … Continue reading
Mechanic’s Lien Statute Strictly Construed in Delaware
In King Construction, Inc. v. Plaza Four Realty, LLC, (Del. Super., Sept. 29, 2008), read opinion here, the Delaware Superior Court strictly construed the Delaware Mechanic’s Lien statute and dismissed the efforts of a subcontractor to file a mechanic’s lien based on non-compliance with … Continue reading
Supreme Court Upholds Limitations on Relief Due to Unclean Hands
In Reserves Development LLC v. Severn Savings Bank, FSB, (Del. Supr., Oct. 21, 2008), read opinion here, the Delaware Supreme Court upheld a decision of the Chancery Court to grant only partial interim injunctive relief to a joint venture partner … Continue reading
Court Rejects Claim by Lowest Bidder Who Did Not Receive Public Contract
Danvir Corp. v. City of Wilmington, (Del. Ch., Oct. 6, 2008), read opinion here , is a Chancery Court decision that denied injunctive relief requested by the lowest bidder on a public contract awarded by the City of Wilmington. Although the … Continue reading
Chancery Stays Discovery Pending Dispositive Motion
Ford Motor Company v. Drive America Holdings, Inc., 2008 Del. Ch., LEXIS 146 (Oct. 8, 2008), read opinion here. This Chancery Court decision applies the usual factors to conclude that discovery should be stayed pending the outcome of a motion to … Continue reading
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