Delaware Business Court Insider | Commentary
By Lawrence J. Kotler | April 24, 2024
The equity owner asserted that the confirmation order that was previously entered by the court should be revoked based on the equity owner's claim that value was lost due to improper sale and marketing efforts by the debtors and its professionals both pre- and post-bankruptcy and, as such, they should have been "in the money" and entitled to a distribution under the confirmed plan.
Delaware Business Court Insider | Commentary
By Chandra K. Shih, Alyssa Frederick and Sara Uz | April 24, 2024
In this article, we have focused on entities available under Delaware law. Delaware public benefit corporations (PBCs) emerged in 2013 and have become especially popular as a result of the increased demand for socially conscious business practices, combined with the familiar reliability of Delaware corporate law.
The Legal Intelligencer | Commentary
By Andrew C. Kassner and Joseph N. Argentina Jr. | April 12, 2024
In In re Cortlandt Liquidating, the U.S. District Court for the Southern District of New York, sitting as an appellate court, reviewed a Bankruptcy Court decision that addressed a number of issues involving a commercial landlord's claims in bankruptcy.
Delaware Business Court Insider | Commentary
By Lewis H. Lazarus | April 10, 2024
As demonstrated by Harrison Metal Capital III v. Mathe, failure to assert well-pleaded allegations showing that a majority of the board is disabled from disinterestedly and independently evaluating whether to bring an action is fatal to a stockholder derivative claim.
Delaware Business Court Insider | Commentary
By George Williams | April 10, 2024
Does Terra's bankruptcy mark the end of the "Crypto Winter"? The recent rebound of the cryptocurrency market seems to suggest so, particularly with Bitcoin setting a new all-time high of $73,805.27 on March 14, 2024.
Delaware Business Court Insider | Commentary
By Cliff C. Gardner and TJ Rivera | March 27, 2024
"Fueled by hindsight bias," Vice Chancellor Lori W. Will explained, Caremark suits have "proliferated in Delaware" seeking to hold directors personally liable for imperfect efforts, operational struggles and business decisions. But, the court noted, a stockholder's position that the board's response to a corporate crisis merely "came too late and did too little" is insufficient under Caremark, which requires a showing that directors acted in bad faith.
The Legal Intelligencer | Commentary
By Lawrence J. Kotler and Elisa Hyder | March 22, 2024
Small businesses seeking to reorganize should be mindful of this growing area of case law as they weigh their different reorganization options including, importantly, where they choose to reorganize and what type of reorganization chapter they should pursue.
The Legal Intelligencer | Commentary
By Sandra Jones | March 18, 2024
SNTs are usually for the most vulnerable of structured settlement payees as a trusted means of asset protection. SNTs will receive the periodic payments directly from the annuity issuer, and the SNT trustees have a fiduciary duty to spend the trust situs for the benefit of each beneficiary.
Delaware Business Court Insider | Commentary
By Brandon R. Harper | March 6, 2024
In a recent memorandum opinion dismissing a suit brought by stockholders derivatively on behalf of Walgreens Boots Alliance, Inc. (Walgreens), Vice Chancellor Lori Will of the Delaware Court of Chancery issued a reminder of the "narrow confines" in which a successful Caremark claim lives.
Delaware Business Court Insider | Commentary
By Kaan Ekiner and Mark E. Felger | March 6, 2024
In Ramco Asset Management v. USA Rare Earth, 2023 WL 6939263 (Del. Ch. Oct. 20, 2023), Vice Chancellor Sam Glasscock III considered jurisdictional…
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