Grunstein v. Silva, C. A. No. 3932-VCN (Del. Ch. Mar. 2, 2011), read letter ruling here. Reviews of the four prior decisions by the Court of Chancery in this matter are available here. At least in part, the genesis of this case is the attempt by the plaintiff to enforce a billion dollar oral agreement.
2011
Hallmark Receives Welcome Greeting: Chancery Approves Recapitalization of Affiliate
By Francis Pileggi on
Posted in Court of Chancery Updates
S. Muoio & Co. LLC v. Hallmark Entertainment Investments Co., C.A. No. 4729-CC ( Del. Ch. Mar. 9, 2011), read 63-page Delaware Court of Chancery opinion here. Hat tip to Wilmington corporate litigator Kurt Heyman for sending me this opinion today. He and his partners Patricia Enerio and Dominick Gattuso represented some of the…
Delaware Court of Chancery 2010 Annual Report and Statistics
By Francis Pileggi on
Posted in Court of Chancery Updates
For those interested in the 2010 Annual Report of the Delaware Court of Chancery with statistical information regarding filings and dispositions, "you are in business". Read the report here. Interestingly, the volume of court filings and dispositions has not dramatically increased, on average, over the last 10 years (as I read the report).
Fraudulent Inducement Rejected as Defense to Contract Enforcement Action
By Francis Pileggi on
Posted in Court of Chancery Updates
Corkscrew Mining Ventures, Ltd. v. Preferred Real Estate Investments, Inc., C.A. No. 4601-VCP (Del. Ch. Feb. 28, 2011), read opinion here.
Short Overview: The Court of Chancery granted a motion for summary judgment to the plaintiff who sought specific enforcement of a financing agreement to purchase securities in a Delaware limited liability agreement.
Brief …
Delaware Supreme Court Affirms Use of Poison Pill to Reject Attempt to Gain Control of Barnes & Noble
By Francis Pileggi on
Posted in Delaware Supreme Court Updates
On March 3, 2011, the Delaware Supreme Court issued a one-page decision affirming Vice Chancellor Strine’s decision in Yucaipa American Alliance Fund II, L.P. v. Riggio, C.A. No. 5465-VCS (Del. Ch. Aug. 12, 2010), dismissing claims of breach of fiduciary duties and finding that Barnes & Noble (“B&N”) had proven at trial that its …
Does Delaware Need Another Law School? Answer: No!
By Francis Pileggi on
Posted in Commentary
Readers of this blog are likely aware that the population of the entire State of Delaware is much less than one million residents, which is smaller than most major cities. Delaware has one law school withing its borders and about 5 more within a short driving distance to nearby Philadelphia and the surrounding area. Yet…
Court Declines to Restore Corporate Existence of Dissolved Corporation to Address Lawsuit Filed Prior to Dissolution
By Francis Pileggi on
Posted in Court of Chancery Updates
Where a dissolved corporation was still in the winding up phase and under the operation of its directors, the Court of Chancery denied a motion to restore its corporate existence and appoint a trustee while litigation filed prior to the filing of the dissolution was still pending. LeCrenier v. Central Oil Asphalt Corp., C.A.
Chancery Clarifies Post-Trial Ruling Per Rule 59(f)
By Francis Pileggi on
Posted in Court of Chancery Updates
Naughty Monkey LLC v. MarineMax Northeast LLC, C. A. No. 5095-VCN (Del. Ch. Feb. 17, 2011), read Court of Chancery’s letter ruling here. Despite the name of the plaintiff, this case involves serious business.
Issue addressed:
The Court treated a motion to clarify as a motion for reargument under Chancery Rule 59(f). The initial post-trial Memorandum Opinion is styled as…
Delaware Supreme Court Affirms Finding of No Discrimination Against Audience at Tyler Perry Movie
By Francis Pileggi on
Posted in Delaware Supreme Court Updates
Boggerty v. Stewart, No. 489-2010 (Del. Supr. Feb. 17, 2011). See overview of affirmed trial court opinion which provides more background facts, available here. The genesis of this case was a complaint about the manager of a movie theater telling an audience before the start of a Tyler Perry movie to turn off their…
Chancery Clarifies Distinction Between General and Special Damages
By Francis Pileggi on
Posted in Court of Chancery Updates
Pharmaceutical Product Development, Inc. v. TVM Life Science Ventures VI, L.P., C.A. No. 5688-VCS (Del. Ch. Feb. 16, 2011). Read opinion here.
Short Overview
This is a somewhat unremarkable decision involving alleged breaches of contract and fraud–except for its clarification of the distinction between "general damages" and "special damages".
Noteworthy Legal Analysis
The parts of…