The Delaware Court of Chancery has ruled that it has personal jurisdiction over investor Martin D. Sass in a case where he allegedly sold a company at an extremely low price to remedy his investment funds’ liquidity crisis.
Sass was sued by Virtus Capital in his capacity, through several entities, as controlling shareholder of Sterling Chemicals Inc. Virtus alleged in Virtus Capital L.P. v. Eastman Chemical that Sass breached his fiduciary duty by selling Sterling at a “fire-sale” price to alleviate the liquidity crisis for a series of investment funds identified under the corporate name Resurgence.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
