Delaware Business Court Insider
A parent company can be liable for tortiously interfering with the performance of a wholly owned subsidiary, the Delaware Court of Chancery has ruled. As a result, the court ordered a real estate company and its subsidiary to jointly pay $6 million in damages to real estate developers after ruling the parent forced the subsidiary to breach its implied obligations.
The Am Law 100's most profitable firm on a per partner basis took the lead on two big deals announced Monday: Halliburton's $34.6 billion acquisition of oil services rival Baker Hughes and Botox maker Allergan on its proposed $66 billion sale to Actavis. A half-dozen other Am Law 100 firms also had key roles on both transactions.