A German bank was contractually obligated to pay distributions to investors who purchased its securities when the financial institution made similar distribution payments on securities it acquired through a merger with another bank, the Delaware Supreme Court has ruled. The high court’s decision reversed and remanded a prior decision by the Delaware Court of Chancery, which held the German bank was not contractually obligated to make distribution payments.

The Supreme Court issued the 38-page opinion in The Bank of New York Mellon v. Commerzbank Capital Funding Trust II.

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