Advancement

Advancement for Intervention Permitted

By Fox Rothschild LLP on October 30, 2015

Not uncommonly, a former director or officer of a Delaware corporation will bring a claim for advancement against the company to defend his or herself in a lawsuit arising “by…
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Advancement Claim Denied by Court of Chancery

By Fox Rothschild LLP on September 14, 2015

In the most recent advancement decision issued by the Court of Chancery, Charney v. American Apparel Inc., C.A. No. 11098-CB (Del. Ch. Sept. 11, 2015), the Court declined to grant…
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Advancement Claim Denied – “By Reason of the Fact” Standard Analyzed

By Fox Rothschild LLP on September 14, 2015

Under Section 145 of the Delaware General Corporation Law (“DGCL”), claims for indemnification or advancement by a director or officer of a corporation must relate to lawsuits or proceedings “by…
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Advancement – Court Rejects Contractual Requirement that Fees on Fees be Paid Even if Claim is Unsuccessful

By Fox Rothschild LLP on September 8, 2015

Often times, a Delaware company will provide its directors and officers with advancement and indemnification to the fullest extent allowed under Delaware law, as a means to attract qualified individuals…
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