Highlights & Analysis of Key Decisions from Delaware's Supreme Court & Court of Chancery
TowerHill Wealth Management v. The Bander Family Partnership, L.P., No. 3830-VCS (August 3, 2009), read letter decision here.
Kevin Brady, a highly respected Delaware litigator, provided the synopsis for this unusual case.
Plaintiffs moved for summary judgment in this decision where the Court of Chancery was “troubled that the defendant seems to be more…
In Martinez v. Regions Fin. Corp. C.A. No. 4128-VCP (Del. Ch. Aug. 6, 2009), read opinion here, the Court addressed a former bank executive’s claims to enforce a change of control agreement she had with her employer bank before that bank merged into a successor bank and for advancement of fees and costs with…
Governor Jack Markell has nominated Delaware lawyer Travis Laster to fill the vacancy on the Delaware Chancery Court. Here is the story in the local paper. Here is a prior post on the selection process. The Delaware Senate is expected to convene a special session in September to confirm the nomination. Travis Laster is…
The U.S. Supreme Court has accepted an appeal from a decision of the U.S. Court of Appeals for the 7th Circuit on an executive compensation issue. More specifically, the opinion appealed from addressed the fiduciary duties of advisors to mutual funds based on federal statutes, as well as compensation payable to those advisors. Here was a prior…
For historical purposes, I provide here the final appellate decision of the House of Lords in England. The Law Lords of that august group served as the equivalent of our U.S. Supreme Court for many years, but just issued their last decision as part of the recent reorganization of the English system. It is interesting to…
In Kuo v. Genius Products, Inc., No. 3329-CC (Del. Ch., July 30, 2009), read opinion here, the Court of Chancery awarded counsel for Plaintiff Betty Kuo (“Kuo”), a minority shareholder in Defendant Genius Products (“Genius”), Inc., $100,000 in fees and expenses following a stipulation and dismissal recognizing the claims Kuo filed as moot.
Kevin…
Hilco Capital, LP v. Federal Insurance Co., No. 620, 2008 (Del., August 10, 2009), read opinion here. This Delaware Supreme Court decision addressed whether a D & O carrier’s refusal to consent to a settlement was a breach of the implied duty of good faith and fair dealing. Delaware’s High Court said no, with 15 pages…
In the case of In Re: Trados Incorporated Shareholder Litigation, No. 1512-CC (July 24, 2009), read opinion here, the Court of Chancery denied defendants’ motion to dismiss breach of fiduciary duty claims arising out of the approval by the Board of Directors of Trados Incorporated (“Trados”) of a transaction whereby Trados became a wholly-owned subsidiary…
In re: 14 Realty Corp., No. 20129-VCS (Del. Ch., August 5, 2009), read opinion here.
This 30-page letter decision reviews de novo the determinations of a Trustee who was appointed to oversee the winding-up of a corporation.
Overview
This litigation began as a dissolution proceeding pursuant to DGCL Section 273 due to the…
The Delaware Chancery Court case of Parfi Holding AB v. Mirror Image Internet, Inc., 2008 WL 4110698 (Del. Ch., Sept. 4, 2008), the opinion for which was summarized on this blog here, was affirmed without a published opinion by the Delaware Supreme Court, and now may be on its way for consideration by the U.S. Supreme Court. The…