The Delaware Court of Chancery has been increasingly willing of late to strike down non-compete covenants as overbroad, a trend accompanied by a growing unwillingness to “blue pencil” agreements by narrowing terms to what the...more
Delaware’s Supreme Court unanimously rejected challenges by stockholders of two corporations who argued the respective companies invalidly adopted exculpatory charter provisions without giving each class of stock a separate...more
Delaware’s Supreme Court recently clarified the difference between derivative and direct claims in the context of a dispute over whether creditors’ fraudulent transfer claims were covered by insurance policies applicable to...more
1/11/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Creditors ,
DE Supreme Court ,
Debtors ,
Delaware ,
Derivatives ,
Fraudulent Transfers ,
Insurance Claims ,
Verizon
Summary -
If a corporation’s directors fail to identify the pivotal point at which their company becomes legally insolvent, they can be held personally liable for breaching their fiduciary duties to the corporation’s...more
Delaware’s Superior Court recently held that commission-agreement parties stated a claim for breach of the implied good faith and fair dealing covenant when they alleged their counter-party acted “to destroy promising...more
Delaware’s Supreme Court held this month that a buyer’s obligation to close a hotel group purchase was excused where the seller adopted what it described as “proportional changes in response to extraordinary...more
The Delaware Supreme Court, in reversing a Delaware Court of Chancery decision, upheld a corporate charter provision requiring stockholders bring claims arising under the Securities Act of 1933, as amended (the 1933 Act), in...more