• Freeman Family LLC v. Park Avenue Landing LLC

    Publication Date: 2019-05-15
    Practice Area: Corporate Entities
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Montgomery-Reeves
    Attorneys: For plaintiff: Patricia L. Enerio and Jamie L. Brown, Heyman Enerio Gattuso & Hirzel LLP, Wilmington, DE for plaintiff.
    for defendant: Thad J. Bracegirdle and Scott B. Czerwonka, Wilks Lukoff and Bracegirdle, LLC, Wilmington, DE; Adam K. Derman and Brian P. O'Neill, Chiesa Shahinian & Giantomasi PC, West Orange, NJ for defendant.

    Case Number: D68562

    A member of a limited liability company was functioning in its official capacity, so it was entitled to advancement and fees-on-fees under the terms of the operating agreement.

  • Fansler v. N. Am. Title Ins. Co.

    Publication Date: 2019-04-03
    Practice Area: Real Estate
    Industry: Insurance
    Court: Delaware Superior Court
    Judge: Judge Davis
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D68511

    Limitations period could be tolled where plaintiffs alleged they relied upon defendants' representations to believe their property had an access easement and that their title insurance policy would protect them from defects in title, and thus any purported defects in the deed or policy documents would not be readily apparent to plaintiffs.

  • In re 11 W. Partners, LLC

    Publication Date: 2019-04-03
    Practice Area: Corporate Entities
    Industry: Real Estate
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: C. Barr Flinn, Emily V. Burton, and Daniel Kirshenbaum, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; Michael J. Bowe, Alexander B. Simkin, and John A. Dunn, Kasowitz Benson Torres LLP, New York, NY for plaintiff.
    for defendant: Ryan P. Newell, Kyle Evans Gay, and Shaun Michael Kelly, Connolly Gallagher LLP, Wilmington, DE; Stan Chelney and Philipp Smaylovsky, Chelney Law Group PLLC, New York, NY for defendants.

    Case Number: D68512

    Reformation of LLCs agreements denied where there was no clear and convincing evidence the language of the agreements failed to reflect the members' true intent or that the non-moving party knew the agreements failed to reflect the parties' intent and failed to inform his fellow members.

  • Personal Touch Holding Corp. v. Glaubach

    Publication Date: 2019-03-13
    Practice Area: Corporate Governance | Real Estate
    Industry: Health Care | Real Estate
    Court: Court of Chancery
    Judge: Chancellor Bouchard
    Attorneys: For plaintiff: Blake Rohrbacher, Brian F. Morris and John M. O'Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Jonathan C. Sulli-van and John A. DeMaro of Ruskin Moscou Faltischek, P.C., Uniondale, NY for plaintiff.
    for defendant: Theodore A. Kittila and James G. McMillian, III, Halloran Farkas Kittila LLP, Wilmington, DE for defendant.

    Case Number: D68490

    A corporate officer breached his fiduciary duty by usurping a corporate opportunity to purchase property, so the court awarded damages to the company.

  • Delaware Business Court Insider

    Chancery Applies Flexible Approach to 'Line of Business' Test in Corporate Opportunities

    March 13, 2019

    Central to this post-trial opinion is his discussion regarding the contours of the “line of business” test and the need to apply the concept flexibly and sensibly when determining whether a corporation has an interest in a line of business.

  • Delaware Business Court Insider

    Master in Chancery Finds an Enforceable Equitable Mortgage Despite Defects in Execution

    February 20, 2019

    In a recent case, Master in Chancery Patricia W. Griffin recommended that the Court of Chancery grant a creditor's motion for summary judgment and order the entry of personal and in rem judgments against its debtors based on a finding that the undisputed facts gave rise to an enforceable equitable mortgage.

  • The Legal Intelligencer

    Demystifying Phantom Stock: How It Works and the Best Way to Structure a Plan

    February 04, 2019

    Despite the ghostly name, phantom stock is not quite as mysterious as it sounds. In essence, phantom stock is a deferred compensation plan that gives an employee a stake in a company's success without conferring an actual ownership interest in the company.

  • Agostini v. Blenheim at Augustine Creek, LLC

    Publication Date: 2019-01-23
    Practice Area: Contractual Disputes | Expert Witnesses | Real Estate
    Industry: Real Estate
    Court: Delaware Superior Court
    Judge: Judge Scott
    Attorneys: For plaintiff: Dean R. Roland, Cooch and Taylor P.A., Wilmington, DE for plaintiff.
    for defendant: Jeffrey M. Weiner, Wilmington, DE for defendant.

    Case Number: D68430

    Jury waiver was enforceable where the heart of plaintiffs' claims went to their request to be made whole under the operative contract and the waiver language was sufficiently conspicuous to place readers on notice they were waiving the right to jury trial.

  • Taplin v. Schuitemaker

    Publication Date: 2019-01-23
    Practice Area: Contracts
    Industry: Real Estate
    Court: Delaware Superior Court
    Judge: Judge Clark
    Attorneys: For plaintiff: Gary E. Junge, Schmittinger & Rodriguez, Dover, DE for appellant.
    for defendant: Paul G. Enterline, Georgetown, DE for appellee.

    Case Number: D68432

    Trial court erroneously denied motion to amend pleadings to add quasi-contractual claims where defendant's acquiescence to introduction of evidence in support of those claims and argument on those claims in defendant's own pleadings demonstrated implied consent to trying the claims and a lack of surprise by amendment.

  • Delaware Business Court Insider

    NYC Investment Firm Entitled to Insurance Payment on $14.5M in Legal Costs, Del. Court Says

    December 13, 2018

    Judge William C. Carpenter said Wednesday that AR Capital, a New York-based investment and advisory firm, was covered under VEREIT's insurance policy for management services it had provided to VEREIT before the errors were discovered in late 2014.