Two recent decisions from the Delaware Court of Chancery address well-settled but important nuances of the right to advancement. A third ruling leaves a gap in this area of the law: other than fees on fees, what remedy is available, if any, for the denial of advancement over several years until it is granted after
Court of Chancery
Advancement Denied for Employee of California LLC
By Francis Pileggi on
Posted in Court of Chancery Updates
A keen observer of Delaware corporate and commercial decisions comments on a recent Court of Chancery ruling that denied advancement to an employee of a California LLC. Keith Paul Bishop provides scholarly insights on the matter styled Likansis v. Walmart Inc., 2026 Del. Ch. LEXIS 144 (2026).
Court of Chancery Regards Cap Table as “Books and Records” Under the Newly- Amended Books and Records Statute
By Francis Pileggi on
Posted in Court of Chancery Updates
This article first appeared in the Delaware Business Court Insider and is reprinted here with their kind permission.
By: Chauna A. Abner and Francis G.X. Pileggi
The Delaware Court of Chancery recently issued a post-trial order that pushes the bounds of what constitutes “books and records” under the newly amended books and records provision…
Delaware Corporate Litigation Podcast
By Francis Pileggi on
Posted in Court of Chancery Updates
The latest episode of our podcast called Delaware Corporate Litigation Insights features the Editor-in-Chief of The Chancery Daily, Lauren Pringle.
How is Delaware’s Court of Chancery adapting to a rapidly growing caseload, and what does the future hold for one of the nation’s most influential business courts?
Drawing on her years of experience covering…
Chancery Declines to Award Remedy for Failure to Maintain Stock Ledger
By Francis Pileggi on
Posted in Court of Chancery Updates
A recent Delaware Court of Chancery decision addressed the obligation of a company to maintain an accurate stock ledger. In Mitchell Partners, L.P. v. AMFI Corporation, C.A. No. 2020-0985-KSJM (Del. Ch. Oct. 1, 2026), the court explained in a post-trial opinion why, based on the facts of this case, there was no remedy available…
Chancery Rejects Advancement Defenses
By Francis Pileggi on
Posted in Court of Chancery Updates
A recent Chancery decision rejected several defenses to advancement, including the commonly unsuccessful argument that the claims in the underlying case were not made against those seeking advancement in their capacity as former officers. In Esposito v. Drivers History Information Sales LLC, C.A. No. 2026-0579-DG, Order (Del. Ch. Oct. 2, 2026)(Gibbs, M.), the Court also…
Webinar on Delaware’s Status in Corporate Law World
By Francis Pileggi on
Posted in Court of Chancery Updates
A recent webinar presented by Lewis Brisbois’ Directors and Officers Litigation Practice Group, for CLE credit, discussed why recent developments do not suggest an imminent change in Delaware’s status in the corporate world. We provide statistics on the number of entities formed in Delaware being higher than ever for 2025, and we also address recent…
Latest Corporate Litigation Podcast on Interpretation Principles for LLCs
By Francis Pileggi on
Posted in Court of Chancery Updates
Our latest Delaware Corporate Litigation Insights podcast discusses the recent Chancery decision highlighted on these pages in Hassanein v. NTO Fund I, LLC, that provides 21 reasons why an LLC is not simply a creature of contract. Delaware corporate litigator Kurt Heyman examines the implications of this decision with hosts Francis G.X. Pileggi and…
Chancery Counts Later-Obtained Written Consents In Lieu of a Meeting in Section 225 Fight over Director Elections
By Francis Pileggi on
Posted in Court of Chancery Updates
This synopsis was prepared by Chauna Abner, a corporate and commercial litigation partner at Lewis Brisbois.
In Freiberg v. Xonar Technology Inc., C.A. No. 2026-0093-KSJM (Del. Ch. Sep. 15, 2026), Chancellor McCormick rejected a director’s Section 225 challenge to his removal based on written consents in lieu of a shareholder meeting after a paper trial.…
Chancery Explains Award of Attorneys’ Fees
By Francis Pileggi on
Posted in Court of Chancery Updates
The Delaware Court of Chancery explained the reasoning for a specific award of attorneys’ fees based on a post-trial decision earlier this year, highlighted on these pages, that discussed the basis for awarding fees in a case involving breach of fiduciary duty, breach of a restrictive covenant, and related breaches. Arxada Holdings NA Inc. v. …