A trio of decisions from the Delaware Court of Chancery concerning when officers, directors and law firms working for a company are entitled to advancement of legal fees has put companies on notice to revisit their bylaws. The most recent decision extended advancement rights to a company's litigation counsel because it was acting as an agent of the company. Two other recent decisions turn on the companies' own articles of incorporation and bylaws to order advancement in one case and deny it in the other.
July 28, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.com
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