This week’s post concerns a decision out of the Delaware Chancery Court, in which the Court was tasked with determining whether the absolute litigation privilege bars the exercise of a contractual repurchase option triggered by claimed disparaging statements made in prior litigation.
Continue Reading Freedom (But with Consequences): In Delaware, Absolute Litigation Privilege Inapplicable to Nullify Contractual Non-Disparagement Repurchase Trigger
This week’s post takes us to the halls of Delaware Chancery Court, where a recent decision from Vice Chancellor Laster offers a first-of-its-kind roadmap for assessing the fiduciary duties owed by a majority shareholder.
Continue Reading The First State Defines the Scope of Majority Shareholder Fiduciary Duties
In this week’s New York Business Divorce, we continue to explore the subject of advancement and indemnification of legal fees, this time under the laws of Delaware.
Continue Reading The Contract is King: Advancement and Indemnification Under Delaware Law
This 7th annual edition of Summer Shorts presents brief commentary on three must-read decisions in business divorce cases involving the use of special litigation committees in derivative actions by LLC members; dissolution of a family-owned real estate holding corporation and LLC; and a Delaware case in which Chancery Court ordered dissolution of a deadlocked LLC co-owned by celebrity chef Gordon Ramsay.
Continue Reading Summer Shorts: Three Must-Read Decisions
A pair of important decisions last month by the Delaware Supreme Court handed defeats to limited partners challenging conflicted asset sales by the general partner. Learn more in this week’s New York Business Divorce.
Continue Reading Limited Partners Take a Licking in Two Delaware Supreme Court Decisions
This week’s New York Business Divorce goes to the movies, sort of, as it looks at a recent Delaware Chancery Court decision granting a former LLC manager’s claim for advancement of legal expenses, in which the court drew comparison between the defendant’s losing argument and a scene from the Mel Brooks film Spaceballs.
Continue Reading When Will Then Be Now? Court Construes LLC Agreement’s Advancement Provision With An Assist From Spaceballs
This 6th annual edition of Summer Shorts presents brief commentary on three decisions of interest in business divorce cases, including a dispute among LLP partners over the reduction of one partner’s interest; disqualification of counsel in an LLC dissolution case; and a Delaware books-and-records case involving phantom stock.
Continue Reading Summer Shorts: Partnership Interest Reduction and Other Recent Decisions of Interest
The Delaware Court of Chancery plays an outsized role not only in the public company arena, but also in the field of business divorce and other disputes among co-owners of closely held corporations, partnerships, and LLCs. This week’s New York Business Divorce sets the stage and invites you to listen to a podcast interview of Delaware lawyers Kurt Heyman and Pete Ladig discussing litigation of business divorce cases in the Delaware Chancery Court.
Continue Reading Business Divorce, Delaware Style