On March 25, 2026, the Delaware General Assembly introduced for consideration Senate Bill No. 267 which, if adopted, would constitute Delaware’s enactment of the recently adopted Uniform Assignment for the Benefit of Creditors Act (the “Uniform Act”). It simultaneously would repeal Delaware’s existing Assignment for the Benefit of Creditors Act, which was enacted in 1875. To…
On March 23, 2026, at the University of Delaware Fintech Innovation Hub, Delaware Governor Matt Meyer and prime legislative sponsors Senator Spiros Mantzavinos and Representative Bill Bush announced the introduction of a package of bills designed to modernize Title 5 of the Delaware Code (the “Banking Code”). Included in this package and introduced in the Delaware…
On March 12, 2026, Governor Matt Meyer signed Senate Bill 230 into law, granting Delaware’s three counties significant new investigative authority in property assessment matters. Board of assessments and county finance offices are now able to issue subpoenas to obtain testimony and documents relating to the assessed value of non-residential property when income or cost comparison…
On March 13, 2026, the Delaware Superior Court amended Rules 5(g) and 37 (e) of the Delaware Superior Court Civil Rules and created Rules 141-146. Amendments and new rules will take effect March 20, 2026. Superior Court Civil Rule 5 (g). The Delaware Superior Court has amended Delaware Superior Court Civil Rule 5 (g) to allow…
Introduction As the 2026 proxy season approaches, this primer may assist in navigating key Delaware law considerations applicable to annual meetings.[1] Pre-Meeting Considerations Delaware corporations should be mindful of these key technical and practical considerations in organizing an annual meeting and preparing the corporation’s proxy statement and related materials in advance of the meeting: Meeting Date. …
In Rutledge v. Clearway Energy Group LLC, No. 248, 2025 (Del. Feb. 27, 2026), the Delaware Supreme Court declared that the safe harbor provisions for conflict of interest transactions implemented through recent amendments to Section 144 of the Delaware General Corporation Law do not violate the Delaware Constitution. Following the adoption of Senate Substitute 1 to…
In a significant move, the U.S. Securities and Exchange Commission issued a no-action letter advising that it will not recommend enforcement action in respect of Exxon Mobil Corporation’s proposed “Retail Voting Program.” Exxon’s novel Retail Voting Program would be offered to all retail investors at no cost on an opt-in basis, allowing retail investors to grant…
Helping Clients Navigate the Intricacies of Delaware Corporate Law Richards, Layton & Finger has been defining Delaware law since 1899. Continuing our long tradition of providing insight into the evolution of our state’s influential laws, this publication highlights recent Delaware corporate and alternative entity cases as well as statutory developments in our state. Our corporate and…
As we begin a new year at Richards, Layton & Finger, I am humbled to occupy the president’s seat and proud to represent an exceptionally talented group of professionals. The past twelve months have brought rapid change across our profession and challenges to Delaware’s corporate landscape. Throughout the year, our firm continued to demonstrate the judgment,…
It is universal practice in large, complex, multi-debtor cases for the same professionals or group of professionals to be retained to represent all debtors in a jointly administered case. Common representation of the debtors makes sense because in most cases, affiliated and related debtors all share a common interest as it relates to the treatment of…