Delaware Supreme Court Clarifies Elements of Claim for Tortious Interference with Contractual Relations
ASDI, Inc. v. Beard Research, Inc., Del. Supr., Consol. Nos. 296/301/308, 2010, (Nov. 23, 2010), read opinion here. This is an appeal from two separate decisions of the Delaware Court of Chancery in the same case. The first decision dealt … Continue reading
Chancery Addresses Essential Terms Needed for Binding Contract
PharmAthene, Inc. v. SIGA Technologies, Inc., C.A. No. 2627-VCP (Del. Ch. Nov. 23, 2010), read opinion here. See prior Chancery decision in this case summarized here. Issue Decided The issue decided in this 32-page decision of the Delaware Court of Chancery … Continue reading
Chancery Describes Procedure for Advancement of Disputed Amount of Fees
Fuhlendorf v. Isilon Systems, Inc., C.A. No. 5772-VCN (Del. Ch. Nov. 3, 2010), read letter ruling here. Issue Addressed This 4-page letter ruling of the Delaware Court of Chancery addresses an issue involving disputed amounts of fees where advancement in … Continue reading
Chancery Addresses Limitations on Ability of Corporation to Redeem Shares
SV Investment Partners, LLC v. Thoughtworks, Inc., C.A. No. 2724-VCL (Del. Ch. Nov. 10, 2010), read opinion here. The 2006 Court of Chancery decision in this case was highlighted here. Issue Addressed This opinion addresses restrictions on the ability of … Continue reading
Court Analyzes Preferred Stock Purchase Agreement under New York Law
On November 5, 2010, the Court of Chancery in Ion Geophysical Corp. v. Fletcher International, Ltd., C.A. No. 5050-VCP, read decision here, addressed cross-motions for summary judgment in a dispute about the interpretation of a preferred stock purchase agreement (“SPA”) … Continue reading
Delaware Supreme Court Rules in Favor of Airgas on Annual Meeting Bylaw Issue
Airgas, Inc. v. Air Products and Chemicals, Inc., Del. Supr., No. 649, 2010 (Nov. 23, 2010), read opinion here. This Delaware Supreme Court opinion determined that the bylaw amendment by which Air Products attempted to shorten the number of months before the … Continue reading
Chancery Court Determines that Fiduciary Duties in LLC Agreement are Waived for Officers and Directors but not for Majority Owner
In Re: Atlas Energy Resources, LLC, Unitholder Litigation, Cons., C.A. No. 4589-VCN (Del. Ch. Oct. 28, 2010), read opinion here. Issue Addressed The Court determined that the LLC Agreement waived fiduciary duties for officers and directors but did not waive … Continue reading
Chancery Modifies Advancement Terms in Status Quo Order
Connecticut General Life Insurance Company v. Pinkas, C.A. No.5724-VCN (Del. Ch. Nov. 1, 2010), read letter decision here. This short letter decision of the Delaware Court of Chancery modified an existing Status Quo Order regarding advancement. The Court allowed a … Continue reading
Chancery Denies Request for Preliminary Injunction to EnjoinTransaction by General Partner of Limited Partnership
In Re Inergy L.P. Unitholder Litigation, Cons., C.A. No. 5816-VCP (Del. Ch. Oct. 29, 2010), read opinion here. This 51-page opinion from the Court of Chancery deserves fuller treatment but for present purposes this lengthy analysis of the terms of … Continue reading
Chancery Awards Fees for Therapeutic Benefit of Amending “Continuing Director” Provisions in Debt Instruments
San Antonio Fire and Police Pension Fund v. Bradbury, C.A. No. 4446-VCN (Del. Ch. Oct. 28, 2010), read opinion here. A prior Chancery decision in this matter was highlighted here. Issue Addressed The issue addressed in this 37-page opinion was … Continue reading
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