Tag Archives: fraud

Claims by Long-Term Close Friend Proceed Against Faithless Business Partner

A recent Delaware Court of Chancery opinion discussed the nuances of an unusual personal and business relationship, akin to a “familial intimacy”, that formed the basis for the court to conclude that a fiduciary relationship could be proven at trial.  See Bamford v. Penfold, L.P., C.A. No. 2019-0005-JTL (Del. Ch. Feb. 28, 2020). Short Overview: … Continue Reading

Chancery Applies Italian, Dutch, English and Delaware Law in Summary Judgment Ruling

In Vichi v. Koninklijke Philips Electronics N.V., C.A. No. 2578-VCP (Del. Ch. Nov. 28, 2012), the Delaware Court of Chancery issued a 65-page decision that applies Dutch, Italian, English and Delaware law in the context of granting in part, and denying in part, a summary judgment motion. A prior 55-page Chancery decision in this case … Continue Reading

Court of Chancery Awards Lost Future Earnings as Damages to Hedge Fund Managers Due to Fraud of Majority Partner

Paron Capital Management LLC v. Crombie, C.A. No. 6380-VCP (Del. Ch. May 22, 2012). Issue Addressed: Whether the breach of fiduciary duty owed by a hedge fund manager to his partners entitles them to lost future earnings. Short Answer: The Court found that the partners who were defrauded were entitled to lost future earnings and other costs associated … Continue Reading

Delaware Supreme Court Bars Fraud Claims Based on Contract Provision

RAA Management, LLC v. Savage Sports Holdings, Inc., No. 577, 2011 (Del. May 18, 2012). Issue Addressed: Whether a disclaimer in a non-disclosure agreement barred claims for fraud by a potential buyer of a business. Short Answer: Yes. Supplement: Professor Bainbridge has a post that addresses this issue in his usual scholarly manner and also links to this … Continue Reading

COURT GRANTS SUMMARY JUDGMENT ON CLAIMS ARISING OUT OF FAMILY OWNED BUSINESS DISPUTE

Stevanov v. O’Connor, No. 3820-VCP(Del. Ch., April 21, 2009), read opinion here. Kevin Brady, a highly respected Delaware litigator, provides us with the benefit of his summary of this Delaware Chancery Court decision as follows: Vice Chancellor Parsons granted in part and denied in part defendant – ex-husband’s motion for summary judgment with respect to his … Continue Reading

Chancery Court Drills Down and Dismisses Breach of Fiduciary Duty Claim in Dispute about Oil and Gas Exploration Investments

Addy v. Piedmonte, et al., Del. Ch., No. 3571-VCP (March 18, 2009), read opinion here. Kevin Brady, a highly respected Wilmington lawyer, prepared the following review of this case: In this Chancery Court decision, Vice Chancellor Parsons dismissed a claim for breach of fiduciary duty in a case with a complex fact pattern involving oil and gas exploration … Continue Reading

Chancery Retains Jurisdiction Over Claims to Pierce Corporate Veil and Related Allegations

 In Winner Acceptance Corp. v. Return of Capital Corp., (Del. Ch., Dec. 23, 2008), read  44-page opinion here, the Chancery Court decided that it had equitable jurisdiction (where it raised the issue sua sponte), over whether the allegations in this case were within its limited parameters. Importantly, there was no specific allegation or request for relief that mentioned … Continue Reading
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