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Delaware Business Court Insider

17th Annual Review of Key Delaware Corporate and Commercial Decisions

This year's list focuses, with some exceptions, on the unsung heroes among the many decisions that have not already been widely discussed by the mainstream press or legal trade publications. Links are also provided below to the actual court decisions and longer summaries.
11 minute read

Delaware Business Court Insider

Timely Appeal of Order of Dismissal Warrants Substitution and Further Proceedings by Chapter 7 Trustee

The Supreme Court held that the trustee should be substituted for the nominal defendant and realigned as the plaintiff in the Chancery Action to enable him to pursue the derivative claims previously asserted by the plaintiff in the Chancery Action.
8 minute read

Delaware Business Court Insider

Delaware Supreme Court Upholds Challenge to State Income Tax Policy

Because the state Legislature has acted in the intervening time, the decision calls into doubt the validity of certain provisions of Delaware's corporate tax laws.
5 minute read

Delaware Business Court Insider

Chancery Finds 'Bird-Dogging' Entitles Plaintiff to Compensation Under Unjust Enrichment Theory

While parties may discuss the terms of a business arrangement, absent definite agreement on all material terms or a definite promise, these arrangements are generally unenforceable.
4 minute read

Delaware Business Court Insider

VC Glasscock on the Evolution of the Vested Rights Doctrine in Delaware

The vested rights doctrine allows a property developer to proceed with a project under the rules and regulations in place at the time that its rights vested, despite subsequent changes to the law.
8 minute read

Delaware Business Court Insider

Court Dismisses Derivative Complaint Where Plaintiff Fails to Plead a Risk of Personal Liability by Directors

A plaintiff seeking to bring derivative claims on behalf of a Delaware corporation bears a heavy burden if she has not made demand and seeks to demonstrate that demand would be futile based on directors' alleged substantial risk of personal liability from approving the transaction under attack.
5 minute read

Delaware Business Court Insider

SPAC Mergers Challenged for an Alleged Statutory Foot-Fault

Stockholder-plaintiffs have filed a number of complaints in the Delaware Court of Chancery challenging at least five mergers involving Delaware special purpose acquisition companies (SPACs) in the last four months alleging that the SPAC's failure to solicit a "class vote" of the SPAC's Class A Common stockholders in connection with certain amendments to the SPAC's certificate of incorporation violates the requirements of Section 242(b)(2) of the Delaware General Corporation Law (the DGCL).
8 minute read

Delaware Business Court Insider

Delaware Court Is Proper Forum to Address Issues Raised by Foreign Letters Rogatory

Superior Court Judge Paul R. Wallace addressed two issues raised by subpoenas issued pursuant to foreign letters rogatory: whether the Superior Court or the foreign court should hear disputes concerning the propriety and scope of the subpoenas, and whether to shift costs from the nonparty to the party requesting the discovery.
6 minute read

Delaware Business Court Insider

The Hybrid Trial in Action Implemented by the Delaware Chancery Court

In the case I just tried, a hybrid solution for court proceedings was smartly implemented by the Delaware Court of Chancery where the court suggested using a third-party technology solution provider to handle the logistical and technical complexities of a hybrid trial in a complex litigation matter.
7 minute read

Delaware Business Court Insider

Chancery Declines to Follow First-Filed Rule in Advancement Case

A recent Delaware Court of Chancery opinion applied an exception to the general rule that Delaware courts will often exercise their discretion to dismiss or stay a Delaware action in favor of a first-filed action between the parties that is pending in another jurisdiction.
6 minute read

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