• Windsor I, LLC v. CWCapital Asset Mgmt. LLC

    Publication Date: 2020-09-23
    Practice Area: Deals and Transactions
    Industry: Financial Services and Banking | Real Estate
    Court: Delaware Supreme Court
    Judge: Justice Valihura
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69133

    Plaintiff failed to state claims for promissory estoppel and unjust enrichment in connection with a proposed transaction which never materialized. Affirmed.

  • In re Nat'l Collegiate Student Loan Trusts Litig.

    Publication Date: 2020-09-16
    Practice Area: Corporate Governance
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Garrett B. Moritz, Benjamin Z. Grossberg, and S. Reiko Rogozen, Ross Aronstam & Moritz LLP, Wilmington, DE; Kimberly A. Evans and Rebecca A. Musarra, Grant & Eisenhofer P.A., Wilmington, DE; Lance Gotthoffer, Chaitman, LLP, New York, NY; Catherine A. Gaul, Ashby & Geddes, P.A., Wilmington, DE; Michael Hanin and Uri Itkin, Kasowitz Benson Torres LLP, New York, NY; John W. Shaw and Jeffrey T. Castellano, Shaw Keller LLP, Wilmington, DE; Matthew A. Martel, Joseph B. Sconyers, Keith M. Kollmeyer, and Anthony M. Masero, Jones Day, Boston, MA for plaintiffs.
    for defendant: Kurt M. Heyman and Melissa N. Donimirski, Enerio Gattuso & Hirzel LLP, Wilmington, DE; Erik Haas, Joshua Kipnees, George A. LoBiondo, Jared Buszin, Peter Shakro, Devon Hercher, and Jonah Wacholder, Patterson Belknap Webb & Tyler LLP, New York, NY; Jason C. Jowers, Stephen B. Brauerman, Brett M. McCartney, and Elizabeth A. Powers, Bayard, P.A., Wilmington, DE; Rebecca L. Butcher and Jennifer L. Cree, Landis Rath & Cobb LLP, Wilmington, DE; John P. Doherty and William Hao, Alston & Bird LLP, New York, NY; Stacey A. Scrivani, Stevens & Lee, P.C., Wilmington, DE for defendants.

    Case Number: D69120

    Because a precautionary security interest could be created simultaneously with the assignment of pledged collateral, indentured parties who received the assignment granted them the beneficial interests of the property, such that the owners of the trusts that acquired the property owed the indentured parties fiduciary duties through the owners' control over the trusts.

  • Accesslex Inst. v. Walmsley

    Publication Date: 2020-09-09
    Practice Area: Creditors' and Debtors' Rights
    Industry: Financial Services and Banking
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff: Daniel C. Kerrick, Hogan McDaniel, Wilmington, DE for plaintiff.
    for defendant: Philippa J. Walmsley, Wilmington, DE, defendant pro se.

    Case Number: D69111

    Plaintiff entitled to judgment where defendant admitted to failing to make payments under defendant's loan agreements with plaintiff and had submitted a non-conforming answer to plaintiff's complaint.

  • Otto Candies LLC v. KPMG, LLP

    Publication Date: 2020-09-09
    Practice Area: Damages
    Industry: Financial Services and Banking | Accounting
    Court: Court of Chancery
    Judge: Vice Chancellor Zurn
    Attorneys: For plaintiff: David E. Ross, Ross, Aronstam & Moritz LLP, Wilmington, DE; Terry L. Wit, Juan P. Morillo, Derek L. Shaffer, Lauren H. Dickie, and David H. Needham, Quinn Emanuel Urquhart & Sullivan, LLP, San Francisco, CA and Washington, DC for plaintiffs.
    for defendant: Kevin R. Shannon, Matthew F. Davis, and Christopher N. Kelly, Potter Anderson & Corroon LLP, Wilmington, DE; Gregory G. Ballard and Jose F. Sanchez, Sidley Austin LLP, New York, NY; Todd Schiltz, Drinker Biddle & Reath LLP, Wilmington, DE; Robert A. Scher and Jonathan H. Friedman, Foley & Lardner LLP, New York, NY; Timothy Jay Houseal, Jennifer M. Kinkus, William E. Gamgort, Young Conaway Stargatt & T aylor LLP, Wilmington, DE; Ana C. Reyes, Williams & Connolly, LLP, Washington, DC for defendants.

    Case Number: D69113

    Negligence action under vicarious liability failed where plaintiffs failed to establish existence of agency or joint venture relationship between defendant and alleged tortfeasor due to the lack of written agreement as required by applicable Mexico law or existence of required elements under applicable Delaware or New York law to find agency or joint venture relationship.

  • In re: Aerogroup Int'l, Inc.

    Publication Date: 2020-09-09
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking | Consumer Products
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Robert M. Hirsh, Beth M. Brownstein, James H. Hulme and Jackson D. Toof, Arent Fox LLP, New York, NY and Washington, DC; Frederick B. Rosner, Scott J. Leonhardt and Jason A. Gibson, The Rosner Law Group LLC, Wilmington, DE for appellant.
    for defendant: Matthew M. Murphy, Nicholas A. Bassett and Brendan M. Gage, Paul Hastings LLP, Chicago, IL; M. Blake Cleary and Michael Neiburg, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE for appellee.

    Case Number: D69112

    A credit bid at an auction of debtors' assets did not constitute a "final" bid, so that bid did not cap the value of the creditor's secured collateral.

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    Florida Construction Defect Litigation 2022

    Authors: Gary L. Brown

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  • In re: Nat'l Collegiate Student Loan Trusts Litig.

    Publication Date: 2020-07-29
    Practice Area: Business Torts
    Industry: Financial Services and Banking
    Court: Court of Chancery
    Judge: Vice Chancellor Slights
    Attorneys: For plaintiff: Kimberly A. Evans and Charles T. Caliendo, Grant & Eisenhofer P.A., Wilmington, DE and New York, NY for plaintiffs.
    for defendant: Jamie L. Edmonson, Daniel A. O’Brien, Allyson B. Baker, Meredith L. Boylan, Sameer P. Sheikh and Tiffany C. Williams, Venable LLP, Wilmington, DE and Washington, DC for defendant.

    Case Number: D69066

    The court granted a motion to dismiss plaintiffs' claim for injurious falsehood, because the allegations of the complaint did not meet the elements of this tort.

  • GlobalTranz Enter., Inc. v. PNC Bank, N.A.

    Publication Date: 2020-07-08
    Practice Area: Creditors' and Debtors' Rights
    Industry: Financial Services and Banking | Cargo and Shipping | Transportation
    Court: Delaware Superior Court
    Judge: Judge Adams
    Attorneys: For plaintiff: Sabrina M. Hendershot and Donna L. Culver, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Anthony J. Dutra and Neal L. Wolf, Hanson Bridgett LLP, San Francisco, CA for plaintiff.
    for defendant: Jose F. Bibiloni, Blank Rome LLP, Wilmington, DE; John E. Lucian, Blank Rome LLP, Philadelphia, PA for defendant.

    Case Number: D69041

    An unsecured creditor could not assert a claim for unjust enrichment against a secured creditor.

  • Consumer Fin. Prot. Bureau v. The Nat'l Collegiate Master Student Trust

    Publication Date: 2020-06-17
    Practice Area: Creditors' and Debtors' Rights
    Industry: Financial Services and Banking | Education
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Colin T. Reardon, Gabriel S.H. Hopkins, Jane M.E. Peterson, Stephen C. Jacques, Consumer Financial Protection Bureau, Washington, DC for plaintiff.
    for defendant: Jamie L. Brown, Kurt M. Heyman, Melissa N. Donimirski, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE; Devon Hercher, Erik W. Haas, George A. LoBiondo, Jared Buszin, Joshua Kipnees, Peter Shakro, Peter W. Tomlinson, Patterson Belknap Webb & Tyler, New York, NY for defendant Ambac Assurance Corp.Daniel A. O’Brien, Venable LLP, Wilmington, DE; Allyson B. Baker, Meredith L. Boylan, Sameer P. Sheikh, Katherine M. Wright, Tiffany C. Williams, Venable LLP, Washington, DC for defendant Transworld Systems, Inc.Catherine A. Gaul, Ashby & Geddes, PA, Wilmington, DE; Michael Hanin, Henry B. Brownstein, Uri Itkin, Kasowitz Benson Torres LLP, New York, NY for defendant Objecting Noteholders.Rebecca L. Butcher, Landis Rath & Cobb LLP, Wilmington, DE; John P. Doherty, William Hao, Alston & Bird LLP, New York, NY for defendant GSS Data Services.Stacey A. Scrivani, Stevens & Lee, P.C., Wilmington, DE; Nicholas H. Pennington, Stevens & Lee, P.C., King of Prussia, PA for defendant The Pennsylvania Higher Education Assistance Agency. Stephen B. Brauerman, Elizabeth A. Powers, Jayson C. Jowers, Bayard, P.A., Wilmington, DE for defendant Wilmington Trust Company.John W. Shaw, Jeffrey T. Castellano, David M. Fry, Shaw Keller LLP, Wilmington, DE; Stephen H. Meyer, Sullivan & Cromwell, LLP, Washington, DC; Matthew A. Martel, Joseph B. Sconyers, Keith M. Kollmeyer, Jones Day, Boston, MA for defendant U.S. Bank National Association.

    Case Number: D69015

    Counsel for trusts lacked authority to sign proposed consent judgment where trust agreements expressly authorized owner trustee as the sole entity to bind the trusts.

  • Bowman v. Barclays Bank of Delaware

    Publication Date: 2020-06-10
    Practice Area: Labor Law
    Industry: Financial Services and Banking
    Court: U.S. District Court of Delaware
    Judge: District Judge Stark
    Attorneys: For plaintiff: Raeann Warner, Jacobs & Crumplar, P.A., Wilmington, DE; James A. Lewis and Jessica Ellis, Pennington Law Group, South Orange, NJ for plaintiff.
    for defendant: Adam V. Orlacchio, Blank Rome LLP, Wilmington, DE; Mark Blondman and Asima J. Ahmad, Blank Rome LLP, Philadelphia, PA for defendant.

    Case Number: D69007

    Defendant plausibly acted as plaintiff's employer where it had authority to control plaintiff's salary, means and manner of work, and direct plaintiff's termination from employment.

  • Pharmacy Corp. of Am./Askari Consol. Litig.

    Publication Date: 2020-05-06
    Practice Area: Contractual Disputes
    Industry: Financial Services and Banking | Retail
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: Jeffrey S. Goddess, Cooch & Taylor, P.A., Wilmington, DE; Brian C. Dunning, Dunning Rievman & Davies LLP, New York, NY; James Sawyer, Dunning Rievman & Davies LLP, Jericho, NY for Kaveh Askari and Onco 360 parties. Brett D. Fallon, Morris James LLP, Wilmington, DE ; Christopher G. Kelly, Stosh Silivos, Holland & Knight LLP, New York, NY; Jeremy M. Sternberg, Holland & Knight LLP, Boston, MA for Pharmacy Corp. parties.
    for defendant:

    Case Number: D68972

    The court denied plaintiffs' motion for partial summary judgment, because they did not demonstrate that an increase in a working capital loan constituted a "major decision" under the terms of their agreements.