Lawrence A. Hamermesh is the Ruby R. Vale Professor of Corporate and Business Law at Widener University School of Law in Wilmington, Delaware. He is a former corporate litigator in Delaware, and he recently returned from a stint at the Securities and Exchange Commission where he was involved in the preparation of the proxy access
Delaware Supreme Court Affirms Deviation from Statute of Limitations, in Applying Doctrine of Latches
On August 11, 2011, the Delaware Supreme Court en banc, in IAC/Interactivecorp. v. O’Brien, No. 629, 2010, affirmed a decision of the Court of Chancery on an issue that goes to the very core of one of the Court of Chancery’s equitable defenses — laches. While the issue that the Supreme Court addressed seemed
Chancery Addresses Legal Ethics of Paying Fact Witnesses
In BAE Systems Information and Electronic Systems Integration Inc. v Lockheed Martin Corporation, C.A. No. 3099-VCN (Del. Ch. Aug. 10, 2011), the Delaware Court of Chancery addressed an issue of legal ethics that is not often the focus of judicial opinions, but which is of practical importance to those who make their living in
Delaware Court of Chancery Analyzes Transferability of LLC Interest and Dissolution of LLC
In Achaian, Inc. v. Leemon Family LLC, C. A. No. 6261-CS (Del. Ch. Aug. 10, 2011), read opinion here, the Delaware Court of Chancery issued today a pithy opinion on LLC law that is destined to be cited often regarding the transferability of the interests of members in an LLC, and related interpretations of
Please Welcome the New Delaware Trial Practice Forum Blog
Please join me in a warm welcome to the blogosphere for a new blog that is designed to cater to Delaware lawyers and judges. The recently launched Delaware Trial Practice Forum Blog was advertised as follows in an email sent today to all members of the Delaware Bar:
The purpose of the site is to
Delaware Court of Chancery Orders Hedge Fund to Return Lerner’s Seed Money (99% of Fund)
In Paige Capital Management, LLC v. Lerner Capital Fund, LLC, C.A. No. 5502-CS (Del. Ch. Aug. 8, 2011), the Delaware Court of Chancery, in a post-trial opinion, ordered a hedge fund to return the seed money provided by an heir to the Lerner fortune, with interest. That “seed investment” comprised 99.9% of the hedge
Delaware Court of Chancery Applies Corporate Law of Spain; Returns Case to Europe
Sagarra Inversiones, S.L. v. Cementos Portland Valderrivas, S.A., No. 6179-VCN (Del. Ch. Aug. 5, 2011), read opinion here. 
Highlights of a prior Chancery decision in this case were posted here.
The prior Chancery decision in this case refused to grant expedited injunctive relief in connection with installment payments for the purchase of a cement
Delaware Supreme Court Addresses Electronic Discovery Issues
The Delaware Supreme Court, in Genger v. TR Investors, recently addressed electronic discovery issues in the context of sanctions imposed in the amount of about $4 million by the Court of Chancery, for spoliation. We highlighted the case on these pages here. Kevin Brady, a nationally recognized electronic discovery expert, provides a
Court of Chancery Grants Expedited Proceedings on Limited Issue of Potential Conflict of Financial Advisor in Cash Transaction
In Re: Ness Technologies, Inc., Shareholders Litigation, C.A. No. 6569-VCN (Del. Ch. Aug. 3, 2011).
Brief Background
This letter ruling addressed a motion to expedite proceedings in a putative class action that was filed to enjoin a proposed transaction through which the largest shareholder of Ness would, through a wholly owned subsidiary, acquire Ness in
Delaware Supreme Court Denies Appeal of Chancery’s Refusal to Enjoin Dynegy Restructuring
In Roseton OL, LLC v. Dynegy Holdings, Inc., No. 401-2011 (Del. Supr. Aug. 5, 2011), the Delaware Supreme Court today denied an interlocutory appeal from a decision of the Court of Chancery that refused to grant a TRO to creditors of Dynegy who sought to enjoin a restructuring that would transfer assets, arguably used for