Court of Chancery Appoints Receiver as Remedy for Contempt in Books and Records Action
Jagodzinski v. Silicon Valley Innovation Company LLC, C.A. No. 6203-VCP (Del. Ch. Feb. 14, 2012). Issue Addressed The issue addressed in this case was whether the Court of Chancery should grant a Motion for Contempt and for the Appointment of … Continue reading
Chancery Explains Basis for Fiduciary Duty Default Standards Applicable to LLCs
Auriga Capital Corp. v. Gatz Properties LLC, C.A. No. 4390-CS (Del. Ch., Jan. 27, 2012), read opinion here. What this Case is About and Why it is Important This case establishes a high-water mark in terms of providing the most … Continue reading
Chancery Grants TRO to Halt Restructuring of Loans Secured by Atlantis Resort and Casino in the Bahamas
Trilogy Portfolio Company, LLC v. Brookfield Real Estate Financial Partners, LLC, C.A. No. 7161-VCP (Del. Ch., Jan. 13, 2012), read opinion here. Issue Addressed Whether the restructuring of a $2.7 billion mortgage loan secured by the Atlantis Resort and Casino … Continue reading
Chancery Affirms Basic Contract Principles of Waiver and Novation
James J. Gory Mechanical Contracting Inc v. BPG Residential Partners V LLC, et al., Del. Ch., C.A. No. 6999-VCG (Dec. 30, 2011), read opinion here . This summary was prepared by Jill Agro of Eckert Seamans. In this short-and-to-the-point opinion, … Continue reading
Delaware Supreme Court Clarifies Right to Prejudgment Interest
Brandywine Smyrna, Inc. v. Millennium Builders, LLC, No. 53, 2011 (Del. Supr., Dec. 9, 2011), read Delaware Supreme Court opinion here. Issue Addressed: This decision addresses the issue of when prejudgment interest is appropriate in a breach of contract case, … Continue reading
Chancery Describes Standard for Pleading Contractual Bad Faith Claims
Clean Harbors Inc. v. Safety-Kleen, Inc., C.A. No. 6117-VCP (Del. Ch. Dec. 9, 2011), read opinion here. What this Case is about: This case involves a challenge to a decision by the board of directors of a company to call … Continue reading
Chancery Denies Motion for Reargument and Explains Law of the Case Doctrine
Naughty Monkey LLC v. MarineMax Northeast LLC, C.A. No. 5095-VCN (Del. Ch. Dec. 20, 2011). This is the latest in a series of decisions by the Court of Chancery involving these parties and their long running dispute over the purchase … Continue reading
Court of Chancery Grants Summary Judgment Against Former Deloitte Partner’s Claim
In Klig v. Deloitte LLP, et al., C.A. No. 4993–VCL (Del. Ch. Nov. 21, 2011), read opinion here, the Court of Chancery granted summary judgment against the plaintiff, Steven Klig, a former tax partner at Deloitte who brought an action … Continue reading
Default Fiduciary Duties and LLCs
The Institute of Delaware Corporate and Business Law at Widener University School of Law has an online symposium on the topic of default fiduciary duties in LLCs and LPs, available here. Professor Larry Ribstein, a leading expert on this topic, … Continue reading
Ethics Column on Recent Delaware Recusal Decision
My latest ethics column for current edition of The Bencher, the national publication of the American Inns of Court, addresses a recent Delaware decision granting a motion to recuse, and is available here. This month’s column was co-authored by Jill … Continue reading
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