Delaware Business Dispute Blog

Review of Business and Commercial Litigation in the State of Delaware and Beyond

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Latest from Delaware Business Dispute Blog

Court of Chancery Amends Various Rules Pertaining to Trust Accountings and Guardianship Proceedings

January 23, 2021

According to a recent announcement, the Delaware Court of Chancery amended various rules to match current practices in the Court and to clarify the Court’s expectations. The Court amended Rules 79, 89, 114, 176, and 180-B. A summary of the changes, as set forth in the announcement, are set forth below: Rule 79 is amended to remove outdated language regarding how the Register in Chancery maintains its dockets. Rule 89 is amended to remove…

Delaware Business Dispute Blog

A Primer on Delaware Books and Records Demands Pursuant to Section 220 of the DGCL

By Carl D. Neff

January 15, 2021

Delaware stockholders and directors have an important tool in their arsenal to obtain information from a Delaware corporation: Section 220 of the Delaware General Corporation Law (“DGCL”). The statute confers standing upon stockholders or directors to demand inspection of the books and records of a Delaware corporation. 8 Del. C. § 220. This post will provide a primer on the litigation of books and records demands pursuant to Section 220 of the DGCL before the Delaware Court…

Delaware Business Dispute Blog

Congress Extends and Modifies Paycheck Protection Program (PPP)

By Carl D. Neff

January 3, 2021

My colleagues at FisherBroyles, LLP, Kevin Gluntz and Paul D. Economon, have recently authored an insightful article on the extension and modification of the Paycheck Protection Program (PPP), titled Client Alert – PPP Re-Run! The contents of the article are set forth below. Client Alert- PPP Re-Run! A copy of this Client Alert can be found HERE. Congress Extends and Modifies Paycheck Protection Program After significant and inexplicable delays, Congress has agreed on…

Delaware Business Dispute Blog

Delaware Judiciary Extends Judicial Emergency, Delaware Courts Remain in Phase 2

By Carl D. Neff

December 31, 2020

On December 30, 2020, the Delaware Supreme Court extended the current judicial emergency for an additional 30 days, effective January 4, 2021. The Chief Justice of the Delaware Supreme Court issued Administrative Order No. 15 memorializing the same. Previously, on October 5, 2020, the Delaware Courts had moved to a modified Phase 3 of the Delaware Judiciary’s four-phase reopening plan that was released in May by the Courts Reopening Committee. The move to a modified…

Delaware Business Dispute Blog

Voluntary and Judicial Dissolution of a Delaware Limited Partnership Examined

By Carl D. Neff

December 28, 2020

The Delaware Revised Uniform Limited Partnership Act (“DRULPA”) sets forth the standard to dissolve a limited partnership formed under Delaware law. 6 Del. C. § 17-101, et seq. Under Section 17-801 of the DRULPA, a Delaware limited partnership will voluntarily dissolve upon the occurrence of certain events, including: (i) at a time specified in the limited partnership agreement; (ii) upon the happening of events specified in the limited partnership agreement; or (iii) the vote of at…

Delaware Business Dispute Blog

Delaware Supreme Court Hands Down Important Books and Records Opinion; Limits Several Commonly Raised Defenses

By Carl D. Neff

December 26, 2020

The Delaware Supreme Court recently handed down a significant decision implicating several common defenses raised to a books and records demand made under Section 220 of the Delaware General Corporation Law. The opinion is AmerisourceBergen Corporation v. Lebanon County Employees Retirement Fund, No. 60, 2020 (Del. Supr. Dec. 10, 2020). The decision is an important read in that it invalidates two common defenses relied upon by corporations to oppose an inspection demand. The decision…

Delaware Business Dispute Blog

Chancery Upholds Agreement Permitting Transfer of Assets; Examines a Century-Long Development of the DGCL

By Carl D. Neff

December 21, 2020

In the recent opinion of Stream TV Networks, Inc. v. SeeCubic, Inc., C.A. No. 2020-0310-JTL (Del. Ch. Dec. 8, 2020) (Laster, V.C.), Vice Chancellor Laster invoked over a century-long development of Delaware corporate jurisprudence to support his ruling that the assets of a 3D television technology company can be transferred to secured creditors, notwithstanding the language of Section 271 of the Delaware General Corporation Law (“DGCL”). The Court of Chancery granted Defendant SeeCubic Inc.’s…

Delaware Business Dispute Blog

Court of Chancery Rules on Advancement Claims Asserted by Directors of a Delaware Corporation

By Carl D. Neff

December 18, 2020

In a recent opinion issued by the Delaware Court of Chancery, Perryman v. Stimwave Technologies, Inc., C.A. No. 2020-0079-SG, the Vice Chancellor Glasscock ruled upon whether directors of a Delaware corporation were entitled to advancement under the corporation’s bylaws, pursuant to 8 Del. C. § 145(e). This opinion is an important read for litigators and practitioners as it provides a helpful roadmap for those parties seeking advancement under Delaware law. In Perryman, whether the…

Delaware Business Dispute Blog

Delaware Chancery Grants Books and Records Demand; Revises Fee-Shifting Award on Remand

By Carl D. Neff

December 9, 2020

In a brief and short letter opinion of Durham v. Grapetree, LLC, Civil Action No. 2018-0174-SG (Del. Ch. Oct. 8, 2020), Vice Chancellor Glasscock ruled upon a pro se litigant’s books and records demand after it was remanded to the Court of Chancery on appeal. The plaintiff attached a number of books and records demands made to the defendant LLC, some timely and others untimely. Initially, the Court granted two of Plaintiff’s demands. Plaintiff…

Delaware Business Dispute Blog

New Confer in Good Faith Requirement Added to Rule 30(b)(6)

By Carl D. Neff

December 5, 2020

Federal Rule of Civil Procedure 30(b)(6) now includes a confer-in-good-faith requirement. The amendment addresses perceived deficiencies in the Rule 30(b)(6) process, including inadequately prepared witnesses and deficient notices. To address these challenges, the rule makers concluded that requiring lawyers to address such issues in advance will increase clarity and resolution. The new amendment provides as follows: Before or promptly after the notice or subpoena is served, the serving party and the organization must confer in…

Delaware Business Dispute Blog

Review of Business and Commercial Litigation in the State of Delaware and Beyond

Blog Authors

Court of Chancery Amends Various Rules Pertaining to Trust Accountings and Guardianship Proceedings

A Primer on Delaware Books and Records Demands Pursuant to Section 220 of the DGCL

Congress Extends and Modifies Paycheck Protection Program (PPP)

Delaware Judiciary Extends Judicial Emergency, Delaware Courts Remain in Phase 2

Voluntary and Judicial Dissolution of a Delaware Limited Partnership Examined

Delaware Supreme Court Hands Down Important Books and Records Opinion; Limits Several Commonly Raised Defenses

Chancery Upholds Agreement Permitting Transfer of Assets; Examines a Century-Long Development of the DGCL

Court of Chancery Rules on Advancement Claims Asserted by Directors of a Delaware Corporation

Delaware Chancery Grants Books and Records Demand; Revises Fee-Shifting Award on Remand

New Confer in Good Faith Requirement Added to Rule 30(b)(6)

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