Posted on February 11, 2009 by Francis G.X. Pileggi

Chancery Reiterates Standards for TRO and Expedited Proceedings

Casale v. Bare, (Del. Ch., Jan. 27, 2009), read letter decision here, is a short Chancery Court ruling that is not remarkable for any reason except that it reiterates in an terse fashion what has been previously enunicated innumerable times in the past by this court, regarding: (i) the prerequisites... Continue Reading...
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Posted on December 21, 2008 by Francis G.X. Pileggi

Chancery Distinguishes Between Promise and Condition in Contract to Deny Indemnification Claim

In TravelCenters of America LLC v. Brog, (Del. Ch., Dec. 5, 2008), read opinion here, the Chancery Court denied a claim for indemnification based on the argument that the provisions of the parties' LLC agreement were breached. The Court reached this conclusion notwithstanding its reasoning in an earlier opinion that... Continue Reading...
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Posted on October 28, 2008 by Francis G.X. Pileggi

Chancery Rules that LLC Agreement is Subject to Statute of Frauds, in Issue of First Impression

Olson v. Halvorsen, (Del. Ch., Oct. 22, 2008), read opinion here. The Chancery Court decided an issue of first impression in the context of cross motions for summary judgment in this case: Does the statute of frauds apply to an LLC Agreement. The answer is yes. Moreover, the court reasoned... Continue Reading...
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Posted on September 30, 2008 by Francis G.X. Pileggi

Chancery Requires Apollo-backed Hexion to Fulfill Its Contractual Duty to Buy Hunstman Despite Material Adverse Effect Clause

In Hexion Specialty Chemicals, Inc. v. Huntsman Corp., (Del. Ch., Sept. 29, 2008), read opinion here, the Delaware Chancery Court rejected the arguments of Hexion, which is 92% owned by private equity group Apollo, that it should be relieved of its contractual obligations to buy 100% of Huntsman's stock based... Continue Reading...
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