Highlights & Analysis of Key Decisions from Delaware's Supreme Court & Court of Chancery
Williams v. Calypso Wireless, Inc., C.A. No. 7140-VCL (Del. Ch. Feb. 8, 2012).
Issue Addressed
Whether it was appropriate to appoint a receiver to dissolve Calypso Wireless, Inc.?
Short Answer
The Court of Chancery appointed a receiver to dissolve Calypso and wind up its affairs in light of Calypso’s failure to comply with an order…
In Johnston v. Pedersen, C. A. No. 6567-VCL (Del. Ch. September 23, 2011), read opinion here, the Court in a post-trial decision, found that that the defendant directors breached their fiduciary duties when issuing the Series B Preferred Stock and as a result, the holders of the Series B Preferred were not entitled…
Opportunity Partners, L.P. v. Transtech Service Partners, Inc., No. 4340-VCP (Del. Ch., April 14, 2009), read opinion here.
This Chancery Court decision granted a petition pursuant to Section 211 of the DGCL to compel a shareholders meeting that had not been held for more than 13 months. The right to force a company to hold an annual…
Last year, I replied to Professor J. Robert Brown’s list of the top 5 Delaware cases that, in his view, supported his negative perspective of Delaware law that remains the constant refrain on his blog called: The Race to the Bottom.
My introductory explanation from my rebuttal of last year was as follows:
… I realize that there are many
…
In Steel Partners II, L.P. v. Point Blank Solutions, Inc., 2008 WL 3522431 (Aug. 12, 2008), the initial complaint was filed to force the holding of a shareholders meeting (which had not taken place since 2005), pursuant to DGCL Section 211. After a stipulation was entered into for a date to hold the meeting, the…