On August 5, 2021, the Delaware Court of Chancery issued revised Guidelines for Persons Litigating in the Court of Chancery. According to the Court’s press release, the Guidelines “review the expectations for remote and courtroom hearings and trials
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Carl D. Neff
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Amendments to Delaware Alternative Entity Statutes Add “Necessary and Essential” Test to Books and Records Inspection Demands
By Carl D. Neff
Effective August 1, 2021, the Delaware Limited Liability Company Act (“LLC Act”), the Delaware Revised Uniform Limited Partnership Act (“LP Act”) and the Delaware Revised Uniform Partnership Act (“Partnership Act”) have been amended to require that the “necessary and essential”…
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Preferred Communication Systems, Inc. Files for Bankruptcy
By Carl D. Neff
Preferred Communication Systems, Inc. (“PCSI” or “Debtor”) filed for chapter 7 bankruptcy before the United States Bankruptcy Court for the District of Delaware on July 28, 2021.
This bankruptcy proceeding constitutes a rare example of a debtor listing more assets…
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Delaware Court of Chancery Dismisses Caremark Claim for Failure to Sufficiently Plead Demand Futility
By Carl D. Neff
The Delaware Court of Chancery recently dismissed a derivative lawsuit asserting a Caremark claim for failure to adequately allege demand futility under Court of Chancery Rule 23.1. The opinion, Pettry v. Smith, et al., C.A. No. 2019-0795-JRS (Del. Ch. June…
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Court of Chancery Dismisses Defamation Claim, Rejects Parties’ Stipulation to Hear Claim Under Clean-Up Doctrine
By Carl D. Neff
In the recent decision of DG BF, LLC, et al. v. Michael Ray, et al., C.A. No. 2020-0459-MTZ (Del. Ch. June 30, 2021), the Delaware Court of Chancery declined to exercise subject matter jurisdiction over a defamation claim despite…
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Court of Chancery Grants Stay of Discovery Pending Resolution of Advancement Claim
By Carl D. Neff
In the recent decision of Agspring Holdco, LLC, et al. v. NGP X US Holdings, L.P., et al., C.A. No. 2019-0567-JRS (Del. Ch. June 28, 2021), the Delaware Court of Chancery issued a stay of discovery pending resolution of…
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Pipeline Foods, LLC Files for Chapter 11 Bankruptcy Protection in Delaware
By Carl D. Neff
Earlier this month, on July 8, 2021, Pipeline Foods, LLC and its affiliated debtors (“Pipeline”) filed for Chapter 11 protection in the United States Bankruptcy Court for the District of Delaware. The debtors’ bankruptcy cases are jointly administered before the Honorable…
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Delaware Court of Chancery Extends the Permitted Use of Unsworn Declarations to September 30, 2021
By Carl D. Neff
On July 12, 2021, the Court of Chancery issued Standing Order No. 6. The standing order extends the permitted use of unsworn declarations, verifications, certificates, statements, oaths, or affidavits in filings with the Court of Chancery, pursuant to 10 …
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Delaware Court of Chancery Extends the Permitted Use of Unsworn Declarations to September 30, 2021
By Carl D. Neff
On July 12, 2021, the Court of Chancery issued Standing Order No. 6. The standing order extends the permitted use of unsworn declarations, verifications, certificates, statements, oaths, or affidavits in filings with the Court of Chancery, pursuant to 10 …
Continue Reading Delaware Court of Chancery Extends the Permitted Use of Unsworn Declarations to September 30, 2021
Face Mask Requirement Modified in Delaware District Court and Bankruptcy Court
By Carl D. Neff
Recently, on July 13, 2021, the Chief Judge of the United States District Court for the District of Delaware issued a Revised Standing Order lifting the requirement that face masks be worn in public areas of the courthouse by those…
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