• In re: AIG Fin. Prods. Corp.

    Publication Date: 2024-09-10
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking
    Court: U.S. District Court of Delaware
    Judge: District Judge Williams
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 22-11309-MFW

    No error in declining dismissal of bankruptcy petition where debtor was balance sheet insolvent and reasonably anticipated filing for bankruptcy absent reorganization.

  • L-5 Healthcare Partners, LLC v. Alphatec Holdings, Inc.

    Publication Date: 2024-09-03
    Practice Area: Contracts
    Industry: Financial Services and Banking | Biotechnology | Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Vice Chancellor Cook
    Attorneys: For plaintiff: William M. Lafferty, D. McKinley Measley, Thomas P. Will, Alexandra M. Cumings, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Antonio Yanez, Jr., Brady Sullivan, Willkie Farr & Gallagher LLP, New York, NY; Alexander L. Cheney, Willkie Farr & Gallagher LLP, San Francisco, CA for plaintiff.
    for defendant: Philip A. Rovner, Potter Anderson & Corroon LLP, Wilmington, DE; Krista M. Enns, Edward C. Wipper, Benesch Friedlander Coplan & Aronoff LLP, New York, NY for defendant.

    Case Number: 2019-0412-NAC

    Court enforced contractual specific remedy provision where breaching party offered no persuasive argument for disregarding the clause and ordered the breaching party to perform at the value the warrant to purchase shares had at the time of its breach.

  • In re: AmeriFirst Fin. Inc.

    Publication Date: 2024-08-27
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. Bankruptcy Court
    Judge: Judge Horan
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 23-11240 (TMH)

    Court authorized unsecured creditors committee to pursue fraudulent transfer claims against first-priority secured creditor where it allegedly forced debtor to concede financial control that the secured creditor used to obtain potentially avoidable transactions.

  • In the Matter of the Niki & Darren Irrevocable Trust

    Publication Date: 2024-08-06
    Practice Area: Trusts and Estates
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 2019-0302-SG

    Successor beneficiary of trust successfully challenged purported decanting of trust corpus into a new trust where the trust did not give trustees the authority to invade trust corpus, a necessary power to decant trust assets under Delaware law.

  • Elad v. Truist Bank

    Publication Date: 2024-07-02
    Practice Area: Creditors' and Debtors' Rights
    Industry: Financial Services and Banking | Legal Services | State and Local Government
    Court: U.S. District Court of Delaware
    Judge: District Judge Williams
    Attorneys: For plaintiff: Joseph B. Elad, Claymont, DE, pro se plaintiff.
    for defendant: Brittany M. Giusini, Ballard Spahr LLP, Wilmington, DE; Lorin Huerta, Deputy Attorney General, Delaware Department of Justice, Wilmington, DE; Helene Elizabeth Episcopo, New Castle County Office of Law, New Castle, DE; Chase N. Miller, McCabe Weisberg & Conway P.C., Wilmington, DE for defendants.

    Case Number: 23-1360-GBW

    Court dismissed complaint challenging state court foreclosure proceedings where defendants were entitled to absolute judicial or quasi-judicial immunity or were not acting under color of state law for purposes of a §1983 claim.

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  • Dealer Serv. Corp. v. Albertson

    Publication Date: 2024-07-02
    Practice Area: Creditors' and Debtors' Rights
    Industry: Financial Services and Banking | Automotive
    Court: Delaware Superior Court
    Judge: Judge Clark
    Attorneys: For plaintiff: Adam F. Wasserman, Ciconte Wasserman & Scerba, LLC, Wilmington, DE for plaintiff.
    for defendant: Gary E. Junge, Schmittinger & Rodriguez, P.A., Wilmington, DE for defendant.

    Case Number: K23J-01105

    Judgment creditor could seek to enforce foreign judgment that had become dormant before transfer as the judgment remained valid under the original jurisdiction's and Delaware's law, but Delaware law required the creditor to either revive the judgment or seek court approval to execute due to its dormancy.

  • Jaroslawicz v. M&T Bank Corp.

    Publication Date: 2024-06-25
    Practice Area: Mergers and Acquisitions
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Wallach
    Attorneys: For plaintiff: Francis J. Murphy, Jr., Jonathan L. Parshall, Murphy, Spadaro & Landon, Wilmington, DE; Steven M. Coren, Benjamin M. Mather, Matthew R. Williams, Kauffman, Coren & Ress, P.C, Philadelphia, PA for plaintiffs.
    for defendant: Brian M. Rostocki, Anne M. Steadman, Justin M. Forcier, Reed Smith LLP, Wilmington, DE; Jonathan K. Youngwood, Janet A. Gochman, Tyler A. Anger, V. Noah Gimbel, Katherine A. Hardiman, Simpson, Thacher & Bartlett, New York, NY; Kevin R. Shannon, Daniel Rusk, Potter Anderson & Corroon LLP, Wilmington, DE; Tracy Richelle High, Scott A. Foltz, Sullivan & Cromwell LLP, New York, NY for defendants.

    Case Number: 15-00897-EJW

    Court did not err in denying class certification where its rulings did not constitute an impermissible "prediction" of plaintiffs' success on the merits and where there was no authority precluding the court from considering loss causation.

  • Rhoades v. Wells Fargo Advisors, LLC

    Publication Date: 2024-06-25
    Practice Area: Business Torts
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Connolly
    Attorneys: For plaintiff: Geoffrey G. Grivner, Buchanan Ingersoll & Rooney PC, Wilmington, DE; Andrew J. Shapren, Scott C. Oberlander, Buchanan Ingersoll & Rooney PC, Philadelphia, PA for plaintiffs.
    for defendant: John P. DiTomo, Courtney L. Kurz, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; David G. Hille, Gregory M. Stamer, Erika Murdoch, White & Case LLP, New York, NY for defendant.

    Case Number: 23-1262-CFC

    Court affirmed FINRA arbitration award, rejecting plaintiffs' arguments in support of their motion to vacate where the award was based on applicable statutory law and a reasonable interpretation of FINRA rules, and where the court lacked authority to reweigh the evidence.

  • CURO Intermediate Holdings Corp. v. Sparrow Purchaser, LLC

    Publication Date: 2024-06-18
    Practice Area: Mergers and Acquisitions
    Industry: Financial Services and Banking | Accounting
    Court: Court of Chancery
    Judge: Vice Chancellor Cook
    Attorneys: For plaintiff: Thomas P. Will, Rachel R. Tunney, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Richard T. Marooney, Emma S. Nguyen, King & Spalding LLP, New York, NY; Jeffrey S. Rosenberg, King & Spalding LLP, Washington, DC for plaintiff.
    for defendant: Nicholas J. Rohrer, Lakshmi A. Muthu, Alex B. Haims, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Christina Golden Ademola, Morrison & Foerster LLP, New York, NY; Robert W. May, Michael Komorowski, Morrison & Foerster LLP, San Francisco, CA for defendants.

    Case Number: 2023-0371-NAC

    Court found no need for judicial interpretation where parties' dispute over working capital calculation merely involved a GAAP issue, and thus the dispute was properly resolved by an independent accountant under the parties' contractual dispute resolution provision.

  • BitGo Holdings, Inc. v. Galaxy Digital Holdings, Ltd.

    Publication Date: 2024-06-03
    Practice Area: Mergers and Acquisitions
    Industry: Financial Services and Banking | Technology Media and Telecom
    Court: Delaware Supreme Court
    Judge: Justice Traynor
    Attorneys: For plaintiff: A. Thompson Bayliss, Michael A. Barlow, Eliezer Y. Feinstein, Abrams & Bayliss LLP, Wilmington, DE; R. Brian Timmons, David M. Grable, Quinn Emanuel Urquhart & Sullivan, LLP, Los Angeles, CA; David Cooper, Deborah K. Brown, Nathan Goralnik, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY for appellants.
    for defendant: Bradley R. Aronstam, S. Michael Sirkin, Ross Aronstam & Moritz LLP, Wilmington, DE; Andrew Ditchfield, Brian M. Burnovski, Pascale Bibi, Kyra Macy Kaufman, Davis Polk & Wardwell LLP, New York, NY; Neal Kumar Katyal, Nathaniel A.G. Zelinsky, Hogan Lovells US LLP, Washington, D.C., Dennis H. Tracey, III, Hogan Lovells US LLP, New York, NY for appellees.

    Case Number: 2022-0808

    Court remanded for reconsideration of interpretation of contractual requirement using extrinsic evidence where both parties proffered reasonable interpretations of the provision.