Tag Archives: advancement

Chancery Examines Reasonableness of Fees Awarded

In Lillis v. AT & T Corp., (Del. Ch., Feb. 25,  2009), read letter decision here,  the Chancery Court reviewed a dispute about the reasonableness of fees that were awarded in an advancement claim as well as related litigation. There have been several Delaware opinions involving these parties in this long running case, which have been highlighted here. I … Continue Reading

When “Indemnification” Also Refers to “Advancement”

 Sodano v. American Stock Exchange LLC, 2008 WL 2738583 (Del. Ch., July 15, 2008), read opinion here.   This Chancery Court decision interprets corporate documents and a settlement agreement to determine rights to advancement of legal fees. The court observes that the word “indemnification” as used by the parties in the relevant documents in this case … Continue Reading

“Fees on Fees” Limited By Proportionality in Advancement Matter; and Chancery Confirms that Advancement Rights May Be Terminated

In Schoon v. Troy Corp., (Del. Ch., March 28, 2008), read opinion here, the Delaware Chancery Court granted advancement rights to one of the plaintiffs, but denied it to the other, based primarily on the wording of the relevant bylaws as construed through the applicable statute and case law. Moreover, although "fees on fees" are … Continue Reading