The Delaware Court of Chancery has granted a plaintiffs’ motion for reargument on claims that the defendant is withholding $3.5 million of distributions in a dispute between entities formed to acquire two nursing home operators. Although the court’s decision allows the plaintiffs to pursue the distribution claims in Delaware, their remaining claims must be litigated before the New York Supreme Court under a prior Chancery Court decision.
Vice Chancellor Donald F. Parsons Jr. issued the opinion last week inMich II Holdings v. Schron , which served as a sequel to his June 29 opinion with the same caption.
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