Among some of the influential decisions to come out of the Delaware Court of Chancery in 2015 were a spate of rulings that refined the way the court approaches the always-hot issues of advancement and appraisal.
Advancement
Delaware has a well-developed system of statute and case law meant to protect the rights of directors and officers to be advanced fees and expenses incurred while defending claims stemming from service in their positions. Without such protections, the rationale goes, qualified professionals might be reticent about serving in high-ranking management positions, which open them up to the possibility of litigation.
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