In the matter of Patel v. Duncan, C.A. No. 2020-0418-MTZ (Del. Ch. May 17, 2020), the Court of Chancery addressed whether a party was indispensable for purposes of Court of Chancery Rule 19(a), and held that the case would not proceed until those parties were added. Anyone needing to know the latest iteration of Delaware
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Chancery Explains Claims-Splitting Policy and Criteria
The Delaware Court of Chancery recently explained the public policy involved, and the applicable criteria used by the court, to determine if “claims-splitting” should require the stay or dismissal of one lawsuit when the same parties are pursuing another lawsuit in another forum based on the same operative facts. In Goureau v. Lemonis, C.A.
Chancery lets investment firm press claim it was duped into buying I.T. company
This post was prepared by Frank Reynolds, who has been following Delaware corporate law, and writing about it for various legal publications, for over 30 years.
The Chancery Court recently green-lighted key parts of an investment company’s suit against officers and owners who allegedly inflated their I.T. and data center services provider’s worth, finding the…
Miscellaneous Delaware Corporate and Commercial Practice Updates
This post is an aggregation of miscellaneous worthwhile Delaware corporate litigation developments that was easier to present as one post instead of multiple smaller posts:
1. Case Law Regarding Importance of Formalities to Modify Pretrial Scheduling Orders:
Two New Vice Chancellors Nominated for Delaware Court of Chancery
The number of jurists on the Delaware Court of Chancery was recently increased from five to seven by legislation. Today, the Governor nominated the two new vice chancellors for Delaware’s equity court, and they now will be considered by the Delaware Senate. A local Delaware publication at this link provides details about the two nominees:…
Relief Granted for Fraudulent Conveyance
The Court of Chancery recently addressed claims for fraudulent conveyance, and relief available for such claims, in Duffield Associates, Inc. v. Lockwood Brothers, LLC, C.A. No. 9067-VCMR (Del. Ch. July 11, 2017). Court of Chancery Rule 9(b) requires that averments of fraud or mistake shall be stated with particularity, as compared to other claims…
Chancery Grants Indemnification for Former Officer
An associate in the Delaware office of Eckert Seamans prepared this overview.
The Court of Chancery opinion in Horne v. OptimisCorp, C.A. No. 12268-VCS (Del. Ch. Mar. 3, 2017) explores Delaware’s indemnification provisions.
Background: Plaintiff William Horne (“Horne”) brought an action for indemnification for fees and expenses against OptimisCorp (the “Company”). Horne’s fees…
Delaware Firearms Law Seminar
The Delaware Association of Second Amendment Lawyers will present its Third Annual Delaware Firearms Law Seminar on October 6, 2016 at 8:30 a.m. in Wilmington, Delaware, at the Doubletree Hotel. The foregoing hyperlink has more details, but in addition to nationally-recognized constitutional law scholars, two members of the Delaware judiciary will be making a presentation…
Chancery Rejects Advancement Claim for Fees on Fees
Generally, a successful claim for advancement of legal fees for a former director or officer entitles the prevailing party to “fees on fees” incurred for obtaining the favorable ruling. A recent ruling from the newest member of the Delaware Court of Chancery explains the limitations or the contours of that general rule. In Wong v. …
Chancery Upholds Waiver of All Fiduciary Duties and Bars All Claims
The recent opinion from the Delaware Court of Chancery in Dieckman v. Regency GP LP, C.A. No. 11130-CB (Del. Ch., March 29, 2016), provides a useful reminder that the Delaware statutes for alternative entities, such as the LP in this case, allow for a waiver of all fiduciary duties. The only exception to that…