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21 result(s) for lyondell
Chancery Addresses Claims Against Investment Fund Managers
Forsythe v. ESC Fund Management Co. (U.S.), Inc., C.A. No. 1091-VCL (Del. Ch. August 11, 2010), read opinion here. Among the five prior opinions in this case (all listed at footnote 1 of the decision), highlights of three are available here. Brief Overview This is the latest in a long-running...
Key Delaware Corporate and Commercial Cases from the First Five Months of 2010
Francis G.X. Pileggi and Kevin F. Brady, over the last five months or so, have highlighted on this blog approximately 100 cases on corporate and commercial law from the Delaware Supreme Court and the Delaware Court of Chancery. Among those cases, we selected the following cases as the most notable...
Robotti & Co. LLC v. Liddell, No. 3128-VCN (Del. Ch., Jan. 14, 2010), read opinion here. See summary of Court of Chancery's prior Section 220 decision involving these parties here. This 43-page Delaware Court of Chancery decision could serve as a “mini-law review article” that explains the current Delaware law...
In Re The Dow Chemical Company Derivative Litigation, Cons. No. 4339, (Del. Ch., Jan. 11, 2010), read opinion here. Kevin Brady and Ryan Newell of the Connolly Bove firm prepared this synopsis. On January 11, 2010, a year after a major corporate battle between the Dow Chemical Company (“Dow”) and...
In two actions involving challenges to a consummated acquisition, the Court of Chancery in In re Nymex Shareholder Litigation, Nos. 3621-VCN, 3835-VCN and Greene v. New York Mercantile Exchange, Inc., et al., No. 3835-VCN (Del. Ch. Sept. 30, 2009), read opinion here, dismissed a multitude of conclusory allegations regarding breaches...
Court of Chancery Dismisses Fiduciary Duty Claims Regarding Vivendi Deal
Wayne County Employees’ Retirement System v. Corti, Del. Ch., No. 3534-CC (July 24, 2009), read opinion here. A prior Chancery Court decision in this case was highlighted on this blog here. In this 50-page decision, the Court of Chancery discusses claims of a former shareholder in a purported class action...
Police & Fire Ret. Sys. of The City of Detroit v. Bernal, No. 4663-CC (June 25, 2009), read letter decision here. This Chancery Court decision provides a useful guide for the standard that will be applied to a motion to expedite proceedings. It also provides insight into the types of...
21st Annual Tulane Corporate Law Institute--Update V
This is my fifth update from this corporate law seminar in New Orleans. On this second day, the third panel presentation this morning is titled: "Delaware Developments". The panel members include a member of the Delaware Chancery Court and a few leading Delaware corporate practitioners. Vice Chancellor Lamb discussed the...
Unanimous Delaware Supreme Court Addresses Revlon and Caremark Issues
Lyondell Chemical Co. v. Ryan, Del. Supr. (March 25, 2009), read opinion here. See revised opinion of April 16, 2009 here. The Delaware Supreme Court rendered this unanimous en banc decision last evening. It was much anticipated in the corporate law world and in the few hours since its release...
Ryan v. Lyondell: Professor Waits for Decision on Appeal
Professor Andrew Lund opines on The Conglomerate blog here with his predictions regarding the decision expected from the Delaware Supreme Court on the interlocutory appeal that Delaware's High Court accepted in the Ryan v. Lyondell case in which the Chancery Court denied a Motion for Summary Judgment in a matter...
Chancery Court Rejects BASF's Claim to be Bought out of Partnership Involving Lyondell
BASF Corp. v. POSM II Properties Partnership, L.P., (Del. Ch., Mar. 3, 2009), read opinion here. Kevin Brady, a highly respected Delaware litigator, prepared the following review of the case. In this Chancery Court decision, Vice Chancellor Strine dismissed an action brought by BASF Corporation, seeking to withdraw from defendant...
Top 5 Delaware Cases from 2008--Rebuttal to Professor Brown
Last year, I replied to Professor J. Robert Brown's list of the top 5 Delaware cases that, in his view, supported his negative perspective of Delaware law that remains the constant refrain on his blog called: The Race to the Bottom. My introductory explanation from my rebuttal of last year...
Supreme Court Accepts Interlocutory Appeal in Ryan Case
In Lyondell Chemical Co. v. Ryan, (Del., Sept. 15, 2008), read Order here, the Delaware Supreme Court accepted an interlocutory appeal pursuant to Supreme Court Rule 42, despite the Chancery Court's denial of the same request presented to it in the first instance for such a discretionary appeal of the...
Revlon Duties Not Triggered in All Sales
Prof. Stephen Bainbridge supplements here his post of yesterday (here) in which he provides a short treatise on the Delaware Supreme Court's decision in Revlon, and its progeny. A tasty morsel from his most recent analysis, referring to the recent Ryan decision by Vice Chancellor Noble, is excerpted below: In...
Prof. Stephen Bainbridge provides a "mini-law review article" here, that examines the Delaware Supreme Court's decision in Revlon v. MacAndrews & Forbes Holdings, 506 A.2d 173 (Del.1985), and its progeny. The scholarly review of cases and commentary also describes, in light of the recent Ryan and Lear decisions of the...
In Re Lear Corp. Shareholder Litigation, 2008 WL 4053221 (Del. Ch., Sept. 2, 2008), read opinion here. This is the third Chancery Court decision in about as many (business) days that addresses the issue of whether: claims against a board of directors will be dismissed based on the exculpation clause...
Chancery Bars Claims Based on Section 102(b)(7) Exculpation Clause
In McPadden v. Sidhu, (Del. Ch., Aug. 29, 2008), read opinion here, the Delaware Chancery Court found that demand was excused under Chancery Court Rule 23.1 but barred claims--by granting a motion to dismiss under Rule 12(b)(6), against the directors despite their apparent apparent violation of their duty of...
Ryan v. Lyondell: Chancery Denies Interlocutory Appeal
Ryan v. Lyondell is a major Chancery Court decision issued about a month ago that has generated a substantial amount of commentary by experts and practitioners alike. A summary of the case and commentary by Professors Ribstein and Bainbridge are compiled here. The newest development in this case came by...
Professor Ribstein: Ryan v. Lyondell--Another Example of "Corporate Indeterminacy"
Professor Larry Ribstein posits here, in response to Professor Bainbridge's recent commentary on Ryan v. Lyondell, here, that Ryan is among other things another example of "corporate indeterminacy", as compared to the greater certainty that can be achieved via contractual provisions in an LLC context. (See my summary of the...
Professor Bainbridge: Delaware Legislature Should Revisit DGCL Section 102 (b)(7)
Professor Stephen Bainbridge muses here about the recent Ryan v. Lyondell decision by the Delaware Chancery Court, summarized here, as well as insights by Professor Gordon Smith (who views the decision as predictable), and suggests that it is time for the Delaware Legislature to revisit DGCL Section 102(b)(7) to, among...
Major Decision by Chancery Court on Corporate Law Aspects of Mergers and Acquisitions
In Ryan v. Lyondell Chemical Company, (Del. Ch., July 29, 2008), read opinion here, the Delaware Chancery Court rendered a decision that is "must reading" for anyone who needs to know the latest developments in Delaware corporate law involving mergers and acquisitions. One reason why this case will attract a...
