In the context of explaining why certain challenges to a stockholders’ agreement were not barred by laches and were otherwise timely, the Delaware Court of Chancery recently recited several enduring fundamental principles of Delaware corporate law and corporate governance in the gem of a decision styled: West Palm Beach Firefighters’ Pension Fund v. Moelis &
section 211
Court of Chancery Appoints Receiver to Conduct Annual Meeting
By Francis Pileggi on
Posted in Chancery Court Updates
Rich v. Fuqi International, Inc., C.A. No. 5653-VCG (Del. Ch. June 12, 2013).
Issue Addressed: Should a receiver be appointed to enforce an order to hold an annual shareholders’ meeting pursuant to DGCL section 211? Answer: Yes.
Brief Background: The Court of Chancery previously ordered this company to hold a shareholders’ meeting…
Chancery Court Orders Company to Hold Shareholders Meeting per DGCL Section 211
By Francis Pileggi on
Posted in Chancery Court Updates
Opportunity Partners, L.P. v. Transtech Service Partners, Inc., No. 4340-VCP (Del. Ch., April 14, 2009), read opinion here.
This Chancery Court decision granted a petition pursuant to Section 211 of the DGCL to compel a shareholders meeting that had not been held for more than 13 months. The right to force a company to hold an annual…