What's Hot In Delaware

• Substantive Changes to Real Estate Broker Licensing Law - On August 3, 2011, Governor Jack Markell signed into law Senate Bill 154, as amended, which completely rewrites the section of the Delaware Code addressing the licensing of real estate brokers and salespersons. More >>
• Auriga Capital Corporation v. Gatz Properties, LLC: Court of Chancery Confirms that a Manager of a Delaware LLC is Subject to Traditional Fiduciary Duties Unless Contractually Modified - In Auriga Capital Corporation v. Gatz Properties, LLC, the Court of Chancery stated that, unless a limited liability company agreement expands, restricts or eliminates the fiduciary duties owed by a manager, a manager is subject to the fiduciary duties of loyalty and care. More >>
• Beyond the Delaware Statutory Trust Act: Is Willful Misconduct the Floor for Liability? - Freedom of contract, including the ability to alter the fiduciary duties and liabilities of trustees, is the hallmark of Delaware trust law and may be the foremost reason for the preeminent position of the Delaware statutory trust in structured finance and investment fund transactions. More >>
• Gerber v. Enterprise Products Holdings, LLC: Court of Chancery Upholds Contractual Modifications of Fiduciary Duties - In Gerber v. Enterprise Products Holdings, LLC, C.A. No. 5989-VCN (Del. Ch. Jan. 6, 2012), the Court of Chancery enforced the contractual modification of fiduciary duties in Enterprise GP Holdings, L.P.'s partnership agreement and, on a motion to dismiss, dismissed all claims against the defendants arising out of the sale of a subsidiary by Enterprise GP Holdings to an affiliate and the subsequent merger of Enterprise GP Holdings into the same affiliate. More >>