In the context of a statutory appraisal judgment, the Delaware Court of Chancery recently adopted outsider reverse veil-piercing into Delaware law. Manichaean Cap., LLC v. Exela Techs., Inc., 2021 WL 2104857 (Del. Ch. May 25, 2021). In a case of first impression, Vice Chancellor Slights acknowledged the risk “that reverse veil-piercing may be used
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The Court of Chancery Rules that the Time to Seek Reconsideration Begins to Run on the Date an Oral Ruling Is Rendered
By Kasey DeSantis on
A motion to reargue in the Delaware Court of Chancery “may be served and filed within 5 days after the filing of the Court’s opinion or the receipt of the Court’s decision.” Court of Chancery Rule 59(f).
Last month, in one of Chancellor Andre G. Bouchard’s final acts before retirement, the Court ruled that the…
Delaware Supreme Court Validates Charter Provisions Requiring that Federal Securities Act Claims be Brought in Federal Court
By Fox Rothschild LLP & Kasey DeSantis on
In the highly anticipated decision of Salzberg v. Sciabacucchi, No. 346, 2019, 2020 WL 1280785 (Del. Mar. 18, 2020), the Delaware Supreme Court held that a provision in several Delaware corporations’ charters, requiring that actions arising under the Securities Act of 1933 (the “Securities Act”) be brought in federal court, was valid and enforceable.…