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December 12, 2012 | Delaware Business Court Insider

Chancery Court Applies Laws of Three Nations to Resolve Motion to Dismiss

The Delaware Court of Chancery applied Dutch, English, Italian and Delaware corporate law in dismissing three counts against a joint venture between two of the world's largest electronic companies. Although the court dismissed some of the charges, alleged by an Italian businessman who loaned money to the venture, three counts will remain.
6 minute read
June 13, 2012 | Delaware Business Court Insider

Grupo Mexico Seeks to Overturn Chancery Decision Because of Barred Witness

In oral arguments before the Delaware Supreme Court on Thursday, attorneys for Grupo Mexico SA argued that record-setting awards for damages and attorney fees made by the Delaware Court of Chancery in the Southern Peru shareholder litigation should be reversed because the trial court abused its discretion by refusing to allow a Goldman Sachs adviser to testify.
4 minute read
September 28, 2011 | Delaware Business Court Insider

LLC Members Held to Be Insiders for Preference Liability Purposes

Generally, any transfer made by a debtor within 90 days before bankruptcy is considered preferential and may be recoverable by the estate. When a transfer is received by an insider, however, Section 547(b)(4)(B) of the Bankruptcy Code lengthens that time period to a full year. Based on this extended reach-back period, it is not uncommon for debtors and trustees to argue that a particular defendant qualifies as an insider, especially when the difference between 90 days and one year could yield a potentially large recovery for the estate.
8 minute read
March 14, 2012 | Delaware Business Court Insider

Shareholders Seek to Enjoin Proposed $73 Mil. Software Company Merger

The fate of another significant merger may rest with the Delaware Court of Chancery deciding if claims of a conflicted financial adviser have enough merit to issue an injunction.
5 minute read
April 10, 2013 | Delaware Business Court Insider

Will Supreme Court's Allergan Reversal Favor First-Filed Jurisdictions?

The Delaware Supreme Court's decision reversing the Court of Chancery and blocking Allergan Inc.'s shareholders from pursuing litigation against the company in Delaware after similar claims had been dismissed by a California federal court has been hailed by some for making it harder for lawyers to rekindle dismissed cases in other jurisdictions.
5 minute read
Law Journal Press | Digital Book Pennsylvania Causes of Action, 12th Edition Authors: GAETAN J. ALFANO, RONALD J. SHAFFER, JOSHUA C. COHAN View this Book

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November 30, 2011 | Delaware Business Court Insider

Competing Tribune Bankruptcy Plans Rejected

Delaware Bankruptcy Judge Kevin Carey rejected competing plans of reorganization in the Tribune Co. cases in a 125-page opinion in which he recited the fable of the scorpion and the fox and threatened to sua sponte appoint a Chapter 11 trustee.
4 minute read
April 18, 2012 | Delaware Business Court Insider

Arbitrating Bankruptcy Disputes: Pursue Timely or Risk Losing Rights

Bankruptcy court is typically not the preferred venue for a nondebtor to conduct litigation. As a result, the existence of an arbitration clause within a contract giving rise to a dispute with a Chapter 11 debtor can create an invaluable option for the nondebtor litigant. However, though bankruptcy courts will generally honor a right to arbitration, it must be timely raised and pursued to avoid losing it.
7 minute read
May 18, 2011 | Delaware Business Court Insider

Rich Realty to Continue Legal Battles with Potter Anderson

Despite losing two key battles in its ongoing legal dispute against Potter Anderson & Corroon, Rich Realty plans to move forward with its claims.
6 minute read
September 21, 2011 | Delaware Business Court Insider

Affirming Creditor's Lack of Derivative Standing, Supreme Court Underscores Plain Meaning of LLC Act

Earlier this month, in CML V LLC v. Bax , the Delaware Supreme Court held that a creditor of an insolvent limited liability company lacks standing under the Delaware Limited Liability Company Act to bring a derivative action against the LLC's former managers.
6 minute read
December 19, 2012 | Delaware Business Court Insider

Chancery Orders Software Manufacturer to Provide Partner With 'Commercially Effective' Software

The Delaware Court of Chancery has ruled that a company that sells software enabling businesses to back up their data has violated a previous order issued by the court by failing to provide a rival with "commercially effective" software as stipulated in a licensing agreement between the two parties.
6 minute read

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