Delaware Business Court Insider | Commentary
By Barnaby Grzaslewicz | August 21, 2024
The actual control theory is "not easy to satisfy." In its recent decision, Scianella v. AstraZeneca UK Limited, C.A. No. 2023-0125-PAF (Del. Ch. July 8, 2024), the Delaware Court of Chancery emphasized that plaintiffs have a steep burden even at the pleadings stage to demonstrate actual control.
The Legal Intelligencer | Commentary
By Lawrence J. Kotler and Ryan Spengler | August 12, 2024
The court found that the simple administration of certain ownership interests of retail cannabis dispensaries "is not in and of itself necessarily equivalent to administering marijuana assets." And, as such, a Chapter 7 trustee could administer and monetize these ownership interests without violating the law.
The Legal Intelligencer | Commentary
By Carl W. Hittinger and Michael E. Neminski | August 5, 2024
The decisions by the U.S. District Court for the Northern District of Texas and the U.S. District Court for the Eastern District of Pennsylvania were in direct conflict. The conflicting decisions created even more uncertainty regarding whether the FTC has the power to issue substantive rules preventing unfair methods of competition.
The Legal Intelligencer | Commentary
By Francis J. Lawall and Tori L. Remington | July 29, 2024
In a recent decision, the U.S. Supreme Court addressed the appropriate remedy for the prior discriminatory application of U.S. Trustee quarterly fees in Chapter 11 cases.
Delaware Business Court Insider | Commentary
By Joshua B. Brooks | July 24, 2024
It is no secret that significant work remains necessary to achieve diversity in the legal profession that is reflective of the population it serves and, like many other states, Delaware has its fair share of work cut out for it.
By Michael L. Cook | July 22, 2024
Recent appellate decisions reflect a distaste for appeals from bankruptcy court sanction orders. A split Fourth Circuit even refused to hear such an appeal. Other courts tend to limit sanctions or, alternatively, accept a bankruptcy judge's findings under a stringent "abuse of discretion" standard.
Delaware Business Court Insider | Commentary
By Vincent J. Cannizzaro III, Aarish Sheikh and Justin Larsen | July 17, 2024
As the Delaware Chancery Court's recent decision in SM Buyer v. RMP Seller Holdings demonstrates, the deference afforded to an arbitrator may result in decisions with which a reviewing court may disagree but that the court is nonetheless bound to confirm.
Delaware Business Court Insider | Commentary
By Michael Gonen | July 10, 2024
While the Delaware General Corporate Law (DGCL) is a broadly enabling statute, a number of recent decisions have found limits to parties' ability to renegotiate internal corporate governance by "private ordering" outside of the corporate charter and bylaws.
Delaware Business Court Insider | Commentary
By Kaan Ekiner and Mark E. Felger | July 3, 2024
In August 2022, Giant/Alpha allegedly used its controlling position in Playtika to cause the Playtika board to engage in a self-tender. In a previous ruling, Vice Chancellor Sam Glasscock found that the transaction conferred Giant/Alpha a nonratable benefit and denied Giant/Alpha's motion to dismiss claims against it arising from the transaction.
Delaware Business Court Insider | Commentary
By Nathaniel J. Stuhlmiller and Brian T.M. Mammarella | July 3, 2024
Practitioners generally lauded MFW as a welcome development that rebalanced the litigation risk landscape in a manner that enabled controlled companies to pursue a greater range of value-maximizing transactions. And in the decade that followed, many companies have taken advantage of the MFW framework to do just that.
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