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Breach of Duty › Board of Directors › Indemnification

King & Spalding

Delaware Chancery Court Rules that Creditor Aided and Abetted a Breach of the Fiduciary Duty of Loyalty

King & Spalding on

On November 15, 2024, the Delaware Chancery Court ruled that a creditor aided and abetted a breach of fiduciary duty. The lawsuit came after Versa Capital Management LLC bought debt owed by BridgeStreet Worldwide, Inc., with...more

Conyers

Directors in the Firing Line

Conyers on

While those running companies may be aware of the numerous management and accounting breaches that can give rise to civil liability, there is generally less recognition of the possibility that breaches can also give rise to...more

Morris James LLP

Chancery Denies Indemnification to Director After Examining Settlement Agreement

Morris James LLP on

Huret v. Mondobrain, Inc., C.A. No. 2021-0208-SG (Del. Ch. Apr. 27, 2022) - Under Section 145(c) of the DGCL, a director that has been successful on the merits or otherwise in defending a covered proceeding is entitled to...more

Morris James LLP

Officer and Director Entitled to Mandatory Indemnification Regardless of Circuitous Path to Victory

Morris James LLP on

Brown v. Rite Aid Corporation, C.A. No. 2017-0480-MTZ (Del. Ch. May 24, 2019). Even when an indemnitee takes a circuitous path to victory, the indemnitee is entitled to indemnification under 8 Del. C. § 145(c) for...more

Morris James LLP

Court Of Chancery Resolves 2 Significant Indemnification Issues

Morris James LLP on

Creel v. Ecolab Inc., C.A. 12917-VCMR (October 31, 2018) - This decision resolves indemnification issues that regularly arise. First, when there are two possible indemnitors and one pays up, may the indemnitee still seek...more

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