Jeff Mordock  | Friday, May 17, 2013
Delaware Business Court Insider

Three judges of the U.S. Court of Appeals for the Third Circuit, asked to consider the constitutionality of the Delaware Court of Chancery's confidential arbitration program, focused at oral arguments Thursday on whether a 2009 statute enacted by the Delaware General Assembly gives the state's Chancery Court judges additional powers to conduct those sessions in private.   read more >>

Jeff Mordock  | Wednesday, May 15, 2013
Delaware Business Court Insider

Primedia Inc.'s shareholders can proceed with their derivative lawsuit alleging that the company's $525 million sale to TPG Capital LP improperly benefited the company's largest shareholder, Kohlberg Kravis Roberts & Co., the Delaware Chancery Court has ruled. In issuing the decision, the court held that the merger must be reviewed under the entire-fairness doctrine because of the possibility that KKR received a special benefit from the merger after Primedia's board opted not to seek profits the investment firm allegedly obtained as a result of insider trading in 2002.   read more >>

Edward M. McNally  | Wednesday, May 15, 2013
Delaware Business Court Insider

There is an uproar going on about the practice of filing suit over every merger announced for a publicly traded company. At least 90 percent of merger announcements are followed in a day or two by the filing of complaints alleging the merger is unfair to one or both of the companies involved. Given that these suits are filed so quickly and in almost every deal, they cannot be well researched and may well be meritless.    read more >>

Jeff Mordock  | Wednesday, May 15, 2013
Delaware Business Court Insider

The Delaware Supreme Court has reversed the Court of Chancery's decision to award $3 million in attorney fees to plaintiffs counsel in a dispute between a commercial real estate investment fund and a property management company, holding there can be no reimbursement of attorney fees to a plaintiff that incurred no expenses because its lawyers had declined to charge a fee in order to avoid any potential malpractice claim.   read more >>

Jeff Mordock  | Wednesday, May 15, 2013
Delaware Business Court Insider

Delaware Governor Jack Markell has visited several countries in an effort to attract international business entities to both incorporate and open offices in the state. On a recent trip to India, attorneys in that country told the governor and his staff that Delaware's Court of Chancery and its modern corporate law are key incentives for businesses seeking economic relations with the state.   read more >>

Michael R. Lastowski and Christopher M. Winter  | Wednesday, May 15, 2013
Delaware Business Court Insider

In In re School Specialty, (Bankr. Del. April 22, 2013), Case No. 13-10125, the debtors had stipulated in an interim DIP order that they were liable to Bayside Finance LLC in the approximate amount of $95 million. That amount included an "early payment fee" (the "make whole payment") of about $23.7 million.    read more >>