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,
Chancery Refuses to Enjoin Transfer of Assets to New Competing Entity
By Francis Pileggi on
Posted in Chancery Court Updates
Henson v. Sousa, C.A. No. 8057-VCG (Del. Ch. Dec. 19, 2012).
Issue Addressed: Whether the prerequisites for injunctive relief were satisfied in connection with a request that the Court enjoin the majority-members of an LLC from wrongfully transferring the customer relationships and assets of the LLC to a new entity which excluded the…
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…
Chancery Issues TRO to Postpone Shareholder Meeting Due to Last Minute Removal of Incumbent Director from Company Slate
By Francis Pileggi on
Posted in Chancery Court Updates
Sherwood v. Chan, C.A. No. 7106-VCP (Del. Ch. Dec. 20, 2011), read opinion here and TRO here.
Issue Addressed
Whether the last minute removal of an incumbent director from the company slate shortly before an annual shareholders’ meeting created irreparable harm due to the threat of an uninformed shareholder vote that warranted a…