The Delaware Court of Chancery is striking back against “new wave” stockholder agreements, which feature stockholder preapproval rights and board restrictions, rather than covenants among stockholders regarding traditional stockholder rights.
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Court of Chancery States the Test for a Permanent Injunction
The Court of Chancery recently stated the appropriate test for a permanent injunction. In In re Covid-Related Restrictions on Religious Services, C.A. No. 2021-1036-JTL (Del. Ch. Nov. 22, 2022)…
Continue Reading Court of Chancery States the Test for a Permanent InjunctionA Member of a Delaware LLC Can Withdraw Their Membership by Implied Agreement
The Court of Chancery recently concluded that a member of a Delaware LLC could reach an implied contractual agreement to withdraw as a member of the LLC, even if the…
Continue Reading A Member of a Delaware LLC Can Withdraw Their Membership by Implied AgreementDelaware Amends DGCL Section 145 to Authorize Captive Insurance Agreements
Delaware Governor John Carney recently signed into law a bill to amend Section 145 of the Delaware General Corporation Law (“DGCL”) to allow Delaware corporations to use captive insurance for…
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Stockholder Lacks Standing to Seek Inspection After Stock Canceled In Merger
In Todd Swift v. Houston Wire & Cable Co., C.A. No. 2021-0525-LWW, memo. op. (Del. Ch. Dec. 3, 2021), the Court of Chancery found that a stockholder lacked standing…
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HB 232 Expands Jurisdictional Limit of the Delaware Justice of the Peace Court
Effective today, the jurisdictional capacity of the Justice of the Peace Court has been expanded in two significant ways via HB 232, which was signed into law by Governor John…
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Chancery Hearings and Trials to be Held Telephonically for 30 Days
This morning, the Delaware Court of Chancery issued Standing Order No. 2 Concerning COVID-19 Precautionary Measures. Pursuant to Standing Order No. 2, all Chancery hearings and trials will be…
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The Delaware Judiciary’s Response to the Coronavirus (COVID-19)
In light of the outbreak of the novel coronavirus (COVID-19), the Courts of the State of Delaware have issued various standing orders to institute precautionary methods in dealing with this…
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Delaware Supreme Court Justices Confirmed by Delaware Senate
The Delaware Senate recently confirmed Governor John Carney’s nominees to serve as the Chief Justice and Associate Justice of the Delaware Supreme Court. In October of 2019, former Associate Justice…
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Governor Carney Nominates Two New Vice Chancellors to the Delaware Court of Chancery
Recently, Governor John Carney nominated Morgan Zurn and Kathaleen McCormick to serve as Vice Chancellors for the Delaware Court of Chancery. The number of jurists on the Court of Chancery…
Continue Reading Governor Carney Nominates Two New Vice Chancellors to the Delaware Court of Chancery