In Meyers v. Quiz-Dia, C.A. No. 9878-VCL (Del. Ch. March 16, 2018), Vice Chancellor J. Travis Laster addressed the question of whether a party that paid the legal fees and expenses of persons entitled to indemnification could be subrogated to their rights to recover losses incurred in defending against claims filed against them. Laster had previously held that the plaintiffs, Greg MacDonald and Dennis Smythe, were entitled to indemnification from two limited liability companies for expenses incurred in defending against claims related to decisions they made while officers of the companies in Meyers v. Quiz-DIA (Del. Ch. June 6, 2017) (the entitlement decision). However, the entitlement decision did not quantify the amount of the indemnification award, and when the parties could not agree on the amount, they returned to the Court of Chancery to decide.
*May exclude premium content
Already have an account? Sign In Now
Interested in customizing your subscription with Law.com All Access?
Contact our Sales Professionals at 1-855-808-4530 or send an email to firstname.lastname@example.org to learn more.