The sellers of a security glass company on Wednesday asked the Delaware Supreme Court to reinterpret a broad general release contract that they said extinguished their obligations under a previously negotiated agreement that barred competition with the company’s buyer for a period of 10 years.
The appellants, the former owners of Global Security Glazing, are challenging a 2015 ruling by then-Vice Chancellor John W. Noble, which found that the terms of the general release were ambiguous but ultimately did not apply to a noncompetition agreement, or NCA, the sellers signed with GSG’s purchasers, Consolidated Glass Holdings, as a part of the company’s $35 million sale in 2011.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
