Delaware Court of Chancery Vice Chancellor Sam Glasscock III has granted a motion for partial final judgment filed by the debt holders of an insolvent pharmaceutical company, despite denying a similar motion last year. Glasscock opted to grant the motion after fellow Vice Chancellor J. Travis Laster, upon remand from the Delaware Supreme Court, reinstated eight of 10 claims he had dismissed with prejudice last year in a case with similar facts. The decision will enable the Supreme Court to simultaneously hear appeals from plaintiffs in both cases on the issue of no-action clauses in indenture agreements.
Glasscock issued the ruling July 12 in Tang Capital Partners v. Norton.
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