Chancellor McCormick, of the Delaware Court of Chancery, recently was presented with the following question: If an indemnification provision in a purchase agreement clearly requires that the indemnifying party be permitted to participate in the defense of third party claims, is it a breach not to allow that participation? It turns out that, despite a bit of creative contractual interpretation, the answer is “yes.”
The post No Participation Trophy: Court of Chancery Shifts Fees For Failure To Allow Indemnifying Seller to Participate In Defense appeared first on Enhanced Scrutiny.