The Delaware Court of Chancery features a trial this week that involves a major challenge to the portfolio of patents held by Alcatel-Lucent that are reported to be worth about $2 billion. A clip of a live video/audio feed of the trial is available here, courtesy of www.courtroomview.com . They summarize the claims and defenses
March 2010
Attorney/Client Privilege Not Waived When Using Employer’s Computer
By Francis Pileggi on
Posted in Selected Articles by Francis
The latest article for my regular ethics column in the current issue of The Bencher, the national publication of the American Inns of Court, on the topic of attorney/client privilege and waiver, is available here.
Chancery Allows Claim to Proceed for Nullification of Certificate of Cancellation Due to Failure of Dissolving Entity to Provide Adequate Reserves for Known Liabilities; Court Rejects Argument that Likely Bankruptcy Makes Nullification Futile
By Francis Pileggi on
Posted in Court of Chancery Updates
Thor Merritt Square, LLC v. Bayview Malls, LLC, C.A. No. 4480-VCP (Del. Ch. March 5, 2010), read opinion here.
Overview
In this decision, the Court of Chancery allowed a claim to proceed for nullification of a Certificate of Cancellation of the Certificate of Formation of the entity involved, due to pending unresolved liabilities and a failure…
Trial Date Set in Airgas/Air Products Takeover Litigation
By Francis Pileggi on
Posted in Court of Chancery Updates
Air Products and Chemicals, Inc. v. Airgas, Inc., C.A. No. 5249 (Del. Ch., March 17, 2010), read letter decision here. This is the latest ruling from the Delaware Court of Chancery in this high stakes corporate battle.
The Court refused a request to hold a trial before September in this hotly contested imbroglio between Airgas and Air Products. We…
Recent Developments in Delaware Corporate Law and Alternative Entity Law
By Francis Pileggi on
Posted in Commentary
For those interested in the above topic, a seminar will be held in Wilmington, Delaware at the Hotel duPont on April 29, 2010 from 8:30am to 12:45pm, and will feature two members of the Delaware Supreme Court as well as nationally prominent law professors and local experts. More details are available here. Although this…
Chancery Enforces Settlement Reached in Court–After Parties Add Material Terms
By Francis Pileggi on
Posted in Court of Chancery Updates
Rizzo v. Joseph Rizzo & Sons Construction Company, Inc., C.A. No. 2551-VCS (Del. Ch. March 12, 2010), read letter decision here.
Overview
This short letter decision is useful for those litigators who find themselves in a situation where a settlement is reached in principle while all parties and counsel are at the courthouse and…
Court of Chancery Questions Special Litigation Committee’s Independence and Investigation; Denies Motion to Dismiss Litigation
By Francis Pileggi on
Posted in Court of Chancery Updates
In London v. Tyrrell et al., C.A. No. 3321-CC (March 11, 2010), read opinion here, the Court of Chancery denied a special litigation committee’s (“SLC”) motion to dismiss a shareholder’s lawsuit under Zapata Corp. v. Maldonado, 430 A.2d 779 (Del. 1981) because there were material questions of fact regarding: (1) the SLC’s independence, (2) the…
Chancery Changes Co-Lead Counsel in Revlon Class Action
By Francis Pileggi on
Posted in Court of Chancery Updates
In Re Revlon, Inc. Shareholders Litigation, Consol. C.A. No. 4578-VCL (Del. Ch. March 16, 2010), read opinion here. This is a Court of Chancery opinion that is certain to generate copious commentary. The Court removed the original Co-Lead Counsel and appointed new Co-Lead Counsel for the class.
A cursory review makes it clear that…
A Cause Of Action For Aiding And Abetting A Fraudulent Transfer Is Not Implicitly Created Under The Delaware Uniform Fraudulent Transfer Act.
By Francis Pileggi on
Posted in Court of Chancery Updates
In Edgewater v. H.I.G. Capital, Inc., C.A. No. 3601-VCS (Del. Ch. March 3, 2010), read opinion here.
Danielle Blount, an associate in our Delaware office, prepared the following summary
The Court of Chancery in this decision determined that the Delaware Fraudulent Transfer Act (“DFTA”) does not implicitly create a cause of action for aiding and abetting…
Agreement Terminable at Will Not Subject to Statute of Frauds
By Francis Pileggi on
Posted in Court of Chancery Updates
Dweck v. Nasser, C.A. No. 1353-VCL (Del. Ch. March 10, 2010), read letter decision here.
Prior decisions of the Court of Chancery involving this matter have been highlighted on this blog here.
This short three-page letter decision refused to apply the Statute of Frauds to an oral agreement that was terminable by either party at…