Delaware Supreme Court Affirms Chancery Court and Refuses to Modify or Vacate Arbitration Award
M3 Healthcare Solutions v. Family Practice Associates, P.A., No. 691-2009 (Del. Supr. May 28, 2010), read opinion here. The specific issue decided in this case is whether an arbitration award should be modified, vacated or corrected. The Supreme Court determined that … Continue reading
Complaint v. BP Filed in Delaware Court of Chancery
Though this is not "breaking news", many readers may be interested in a derivative suit that was filed in Delaware Chancery Court involving BP and several other parties involved in the huge oil spill that is still unfolding in the … Continue reading
Chancery Applies FINRA Rules To Affirm Arbitration Award with Punitive Damages
Credit Suisse Securities (USA) LLC v. Investment Hunter LLC, C.A. No. 5107-VCN (Del. Ch. May 27, 2010), read opinion here which affirmed an arbitration award that granted $1 million in punitive damages. Because New York law applies to this case, I will … Continue reading
Chancery Provides History Lesson on Foundations of our System of Federalism
Town Council of Ocean View v. Brown, C.A. No. 4969-VCL (Del. Ch. May 27, 2010). read letter decision here. This short letter decision provides, in a practical manner, a pithy overview of the basis for the limited subject matter jurisdiction exercised … Continue reading
Chancery Rejects Request to Enjoin Freeze-Out by Controlling Stockholder
In Re CNX Gas Corp. Shareholders Litigation, C. A. Consol. No. 5377-VCL (Del Ch. May 25, 2010), read 42-page opinion here. This will be a very short overview until a fuller synopsis can be provided at a later date. Overview The Delaware Court of … Continue reading
Delaware’s Future in light of Pending Federal Legislation
Professor J.W. Verret writes here about the impact on Delaware corporate law of the pending federal legislation that seems likely to be signed into law in the near term. Professor Stephen Bainbridge provides his scholarly analysis to the debate here … Continue reading
Court of Chancery Finds That, Under New York Law, Notes May Be Voluntarily Cancelled Absent Provision in the Indenture to the Contrary
In Concord Real Estate CDO 2006-1, Ltd. v. Bank of America N.A., C.A. No. 5219-VCL (Del. Ch. May 14, 2010), read opinion here, the Court of Chancery addressed the issue of whether notes issued as part of a collateralized debt obligation were … Continue reading
Chancery Denies Stay Pending Appeal of Decision Requiring Disclosure of Limited Partners’ Names
Brown Investment Management, L.P. v. Parkcentral Global, L.P., C.A. No. 5248-VCL (May 24, 2010), read letter decision here. This short ruling by letter followed a decision from the bench after a one-day trial in which a limited partner sought the names and addresses … Continue reading
The Intersection of Federal Bankruptcy and State Corporate Law
The seminar today at the Widener University School of Law on the above topic, described in more detail here, addresses an area of law that is certain to be of interest to readers. I am only able to attend the first … Continue reading
Chancery Decides that Books and Records Demand Must Be Arbitrated Per L.P. Agreement
Aris Multi-Strategy Fund, LP v. Southridge Partners LP, C.A. No. 5422-CC (Del. Ch. May 21, 2010), read letter decision here. Although barely three-pages long, this ruling is noteworthy for the important issue that it decides. This matter was presented to the Court of … Continue reading
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