Court Affirms Effectiveness of Shareholder Consent Requirement for Bankruptcy Filing
In her Distress Mergers and Acquisitions column, Corinne Ball discusses the case "Franchise Services of North America" and writes: The importance of this case rests upon the threshold determination that relief from provisions in the certificate of incorporation granting rights to bona fide investors must be sought in the relevant state court, even when the remedy sought is the exercise of a federal right, generally exercised by fiduciaries that are required to act in the corporation's best interests.
June 27, 2018 at 02:50 PM
1 minute read
See A Case to Watch: The Fifth Circuit Accepts Direct Appeal Respecting Enforcement of Corporate Restraints Preventing Bankruptcy Franchise Servs. of N. Am. v. United States Trs. In re Franchise Servs. of N. Am.
Background
Public Policy
Price v. Gurney Price, bona fide
Delaware Law
Core Holdings
bona fide bona fide” bona fide bona fide”
Conclusion
Price bona fide Corinne Ball is a partner at Jones Day.
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