A lawsuit challenging a Washington state court’s decision to appoint a receiver for a Seattle office building was stayed, but not dismissed, by the Delaware Court of Chancery. In issuing the decision, the Delaware court concluded that, under the McWane doctrine, the plaintiff’s lawsuit raises similar issues to the Washington litigation, which is still pending.
Under the court’s decision in Landesbank Baden-Wurttemberg v. Walton Seattle Mezz Holdings VI-B LLC, a 27-page opinion authored by Vice Chancellor Sam Glasscock III and issued Monday, the Chancery Court will wait until the action currently pending in Washington State Superior Court is resolved before deciding to dismiss or retain the lawsuit.
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