One major requirement for the appointment of a receiver under Section 291 of the DGCL is establishing the insolvency of the corporation. The burden of establishing insolvency lies with the
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Practice Pointers
Appointing Receiver to an Insolvent Corporation Under Section 291 of the DGCL: Who has Standing to Seek Appointment?
Under Section 291 of the DGCL, only shareholders or creditors have standing to seek the appointment of a receiver to an insolvent Delaware corporation. However, Delaware cases have interpreted the…
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Court Denies Motion to Expedite; Delay Added to Plaintiff’s Burden
In the recent decision of Ehlen v. Conceptus, Inc., C.A. No. 8560-VCG (Del. Ch. May 24, 2013), the Court of Chancery ruled on a motion to expedite filed…
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Counsel Warned To Proceed At Their Own Risk When Granting Courtesy Extensions Without Prior Court Approval
“Henceforth, parties who ignore or extend scheduling deadlines without promptly consulting the trial court, will do so at their own risk.”
The Delaware Supreme Court in the recent…
Court of Chancery Issues Discovery Guidelines
The Court of Chancery has recently expanded its Guidelines for Practitioners, to incorporate guidelines regarding discovery. On January 13, 2012, this blog provided a summary review of…
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Court Adopts Rule 5.1 Regarding Sealing of Pleadings
Court of Chancery Grants Motion to Compel
In the decision of NuVasive, Inc. v. Lanx, Inc., C.A. No. 7266-VCG (Oct. 12, 2012), the Court of Chancery reviewed a motion to compel filed by Plaintiff NuVasive…
Amendment to Court of Chancery Rule 171: Filing Appendices and Compendiums to Briefs
The Court recently amended Court of Chancery Rule 171, which addresses the practice of filing Compendiums and Appendices to Briefs. For a copy of the amendment, click here. To…
Delaware Supreme Court Rules that Court of Chancery Has Discretion to Dismiss Inactive Cases
In Solow v. Aspect Resources, LLC, Del. Supr., No. 484, 2011 (Mar. 19, 2012), the Delaware Supreme Court ruled that the Court of Chancery has discretion to dismiss…
Appraisal Actions Must Be Instituted Separately From Claims of Wrongdoing Against Directors and Officers, With One Exception
It is not uncommon for shareholders who seek appraisal of their shares, pursuant to Section 262 of the Delaware General Code (“DGCL”) in objection to a merger, to also pursue…