Chancery Discusses Italian, English and Delaware Law to Reject Multiple Claims
Vichi v. Koninklijke Philips Electronics, N.V., C. A. No. 2578-VCP (Del. Ch. Feb. 18, 2014). Why is this case noteworthy: Although the practical application of this decision to the average litigator is not likely to be widespread, this Court of Chancery opinion is notable for a few less conventional reasons. For example, it has the distinction of being–perhaps–the longest opinion in the more than 200 year history of the court. Weighing in at 182 pages in the slip opinion format, we will not attempt to summarize it in a medium designed for more pithy highlights (even though it is not uncommon for Chancery opinions to approach or exceed 100 pages.) In its simplest form, this opinion is the latest iteration of seven-years of litigation to collect on a loan of 200 million Euros based on fraud and related claims. [Yes, that is the correct spelling of the defendant company.]
Suffice it to say that it is worth reading for many reasons–on your own time, for those who may enjoy the painful description of a largely unsuccessful and undoubtedly very expensive effort to recoup an unpaid loan. In addition, for example, Italophiles will enjoy the analysis of Italian law by a Delaware jurist. Prior Chancery decisions in this case, which also applied Italian, Dutch and English law, were highlight on these pages.