The Delaware Court of Chancery granted a TRO recently to enforce a covenant-not-to-compete, or non-compete agreement, notwithstanding a liquidated damages provision and the (unsuccessful) argument that such a provision created the absence of irreparable harm needed for injunctive relief. In Affinity Wealth Management LLC v. McPoyle, C.A. No. 2019-0441-JTL, transcript (Del. Ch. June 18,
irreparable harm
Chancery Enforces Non-Competition Agreement
By Francis Pileggi on
Posted in Chancery Court Updates
Simplexity, LLC v. Zeinfeld, C.A. No. 8171-VCG (Del. Ch. April 5, 2013) (Redacted Version)
Issue Addressed: This case involves a dispute between two companies over the hiring of the former CEO of Simplexity, Andrew Zeinfeld. (The publication of this opinion was delayed while confidential data was redacted.)
Short Overview
Simplexity contends that Zeinfeld’s…
Contract Terms Satisfies Irreparable Harm Requirement for Injunction
By Francis Pileggi on
Posted in Chancery Court Updates
AM General Holdings LLC v. The Renco Group, Inc., C.A. No. 7639-VCN (Del. Ch. Dec. 21, 2012).
Why this Case is Noteworthy
This case serves as a reminder that parties can agree by contract, and the Court will recognize, a provision that stipulates to irreparable harm in the event of an alleged breach, which…
Chancery Grants TRO to Halt Restructuring of Loans Secured by Atlantis Resort and Casino in the Bahamas
By Francis Pileggi on
Posted in Chancery Court Updates
Trilogy Portfolio Company, LLC v. Brookfield Real Estate Financial Partners, LLC, C.A. No. 7161-VCP (Del. Ch., Jan. 13, 2012), read opinion here.
Issue Addressed
Whether the restructuring of a $2.7 billion mortgage loan secured by the Atlantis Resort and Casino in the Bahamas created the necessary type of irreparable harm to the lenders…