Delaware Supreme Court Chief Justice Myron Steele was interviewed on this blog about two years ago and that gracious exchange is available here. Eric Ruth of the Wilmington News Journal writes here on his Delaware, Inc. blog about a more recent interview that Delaware’s top jurist gave that is must reading for those who
Delaware Bankruptcy Court Transfers Case to Northern District of Texas
In Re: Rehoboth Hospitality LP, C.A. No. 11-12798(KG) (Bankr. D. Del. Oct. 19, 2011). Read opinion here.
Issue Addressed
Whether a bankruptcy proceeding commenced by an entity whose primary asset is a hotel located in Abilene, Texas should be transferred to the Bankruptcy Court for the Northern District of Texas pursuant to 28
Court of Chancery Clarifies Rights of Minority Shareholders Whose Equity is Diluted
Dubroff v. Wren Holdings, LLC, C.A. No. 3940-VCN (Del. Ch. Oct. 28, 2011), read 45-page opinion here. See prior Chancery decisions in this case highlighted on these pages here and here.
Issues Addressed
The issues addressed in this gem of an opinion include: (i) whether and when a minority shareholder’s claim for breach
Abe Lincoln: A Source of Professional and Personal Guidance
Courtesy of Kevin O’Keefe is a listing of old-fashioned but still applicable, time-honored advice from my favorite U.S. President, Abraham Lincoln, for professional and personal guidance:
Abe Lincoln
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Jason Baudendistel has a wonderful post today entitled ‘Why Your Business Should Be Modeled After Abraham Lincoln’s Life.’
Battling life long depression, Lincoln persevered out
Rule 11 Penalties Imposed
There are relatively few Delaware decisions interpreting Rule 11. A recent decision of the Delaware Superior Court added to the sparse Delaware jurisprudence on this issue and observed that Court of Chancery Rule 11 is identical to Superior Court Rule of Civil Procedure 11. In Re Asbestos Litigation, C.A. No. 09C-11-059 ASB; C.A. No. 09C-07-128
LexisNexis Top Business Law Blogs for 2011
LexisNexis Corporate Law Update
In the latest installment of the LexisNexis Corporate Law Update, Steve Berstler of LexisNexis interviews Francis G.X. Pileggi of Eckert Seamans and Kevin F. Brady of Connolly Bove Lodge & Hutz LLP, who discuss the latest case law developments in Delaware corporate and commercial law, including the dismissal of a derivative action against Goldman Sachs
Court of Chancery is Sued: Confidential Arbitration Procedure is Challenged
The Delaware Court of Chancery, and the members of its bench, have been sued in the U.S. District Court for the District of Delaware over the relatively new arbitration procedures that allow for selected lawsuits involving at least $1 million to be filed under seal, with the consent of all parties, and provide for a
Duties of Directors of Wholly-Owned, Financially Troubled Subsidiaries
Professor J. Haskell Murray of the Regent University School of Law, a former law clerk for the Delaware Court of Chancery, has published a paper on an issue about which the Delaware courts have not yet provided clear and unambiguous guidance. An excerpt from an abstract of the professor’s paper, titled: ‘Latchkey Corporations’: Fiduciary Duties
Professor Conaway on Piercing the LLC Veil
Professor Ann E. Conaway, a distinguished professor at the Widener University Law School, has provided scholarly insights here about her disagreement with some Delaware decisions in terms of how they approach piercing the veil of an LLC and why the analysis should not be the same as would apply to piercing the corporate veil.