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Conclusive Presumption of Good Faith in MLP Agreements
The Delaware Supreme Court provided helpful guidance on the operation of the conclusive presumption of good faith in master limited partnership agreements in three recent decisions: Brinckerhoff v. Enbridge Energy, No. 574, 2011 (Del. May 28, 2013); Norton v. K-Sea Transportation Partners L.P., No. 238, 2012 (Del. May 28, 2013); and Gerber v. Enterprise Products Holdings LLC, No. 46, 2012 (Del. June 10, 2013). These decisions validate the use of conclusive presumption provisions in accordance with the intent of the Delaware Revised Uniform Limited Partnership Act (DRULPA) to give "maximum effect to the principle of freedom of contract and to the enforceability of partnership agreements," yet demonstrate that such contractual freedom is not without limits.
The Wheel of Fortune Hasn't Landed on Bankruptcy Yet
Reports on bankruptcy filings and searches for bankruptcy attorneys have suggested work is picking up for the practice, but other reports say the wave of filings expected to crest over the past nearly two years has yet to hit. So what is a firm to do?
Child-Support Limitation Ruling May Head to High Court
The Delaware Supreme Court may soon wrestle with the issue of whether, under the state's Probate Code, child-support claims against a decedent's estate must be filed within eight months after death and cannot be tolled until the child's birth.
Glasscock Dismisses Shareholder Suit Against Goldman Sachs
The Delaware Court of Chancery has dismissed a case that claimed Goldman Sachs breached its fiduciary duty to shareholders through a compensation structure that encouraged employees to take undue risks.Avenarius v. Eaton Corp., DeFAX Case No. D65226 (D.Del. Oct. 16, 2012) Robinson, J. (19 pages).
Avenarius v. Eaton Corp., DeFAX Case No. D65226 (D.Del. Oct. 16, 2012) Robinson, J. (19 pages).Attorney Ineligibility Order Pursuant to Rule 1:28-2(a)
Notice to the bar.
Tower Records Replays Bankruptcy Filing
Tower Records filed for Chapter 11 on Sunday in Delaware and intends to auction the company. Those planning to bid are not hoping to save the company, but are "bone pickers" who are looking to buy and sell, an industry source said. This is Tower's second stint in Chapter 11 in the last two years. Former CEO Allen Rodriguez, who saw Tower through its first bankruptcy, was recently asked to leave before his contract ended. "Time has marched on, and Tower hasn't kept with the beat," the source noted.
Your Personal Marketing Plan: A Checklist for Success
For some attorneys, developing a personal marketing plan can feel like an exercise in futility. Often it is something that is done to appease firm management and written without a lot of thought and energy. Inevitably these plans are tossed aside, only to be consulted when next year's plan is due.TRENDING STORIES
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