The Delaware Supreme Court on Monday ruled noteholders who had secured warrants after an issuer defaulted on the debt are entitled to attorney fees. In so holding the high court reversed the Delaware Court of Chancery.
In a 15-page opinion, Chief Justice Leo E. Strine Jr. rejected a narrow interpretation of a broad fee-shifting provision that allowed the plaintiffs to recover fees and costs for “any indebtedness” collected in court or placed “in the hands” of attorneys after a default.
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