Delaware’s Demand Futility Test Used by High Court of Marshall Islands

As we have noted from time to time, other jurisdictions are very interested in and follow Delaware corporate law in deciding cases.  This post is a follow-up to a December 2011 post about a decision issued by the High Court of the Republic of the Marshall Islands (located in the South Pacific).  This is the latest pronouncement on Delaware law and demand futility in that jurisdiction where the  Marshall Islands Court concludes that the claims brought by the plaintiff should be dismissed for failure to make demand under Delaware law.  This decision comes from my friend, Marc Sonnenfeld of Morgan Lewis, who participated in this litigation on behalf of the defendants.