Dating back to In re Johns-Manville Corp., et al., Case No. 82-11656 (CGM) (Johns-Manville), the bankruptcy process has provided companies with useful tools for addressing current and future mass tort liability in a centralized forum. Indeed, Chapter 11 has been used as a means for addressing mass tort liabilities related to, among other things,…
Restrictive noncompetition covenants have frequently been the subject of judicial review in Delaware and regulatory scrutiny nationwide in recent years. While the Delaware judiciary has often been reluctant to enforce noncompetes, a number of recent decisions from the Delaware Supreme Court and the Delaware Court of Chancery have provided helpful guidance to employers, business partners, and…
The State Chamber’s Environmental Committee convenes regularly and brings together environmental leaders from Delaware’s business community to discuss challenges, share solutions, and help shape practical, science-based environmental policy. Focused on key issues such as air quality, water resources, energy, and site remediation, the committee serves at the forefront of environmental conversations in the state. One bill…
Aiding and abetting claims against arm’s-length third parties have often been described as some of the most difficult claims to prove under Delaware law. Despite this truism, in two recent post-trial opinions—In re Mindbody Stockholder Litigation and In re Columbia Pipeline Group Merger Litigation—the Delaware Court of Chancery held third-party buyers liable for…
I am writing today with a deep sense of both gratitude and humility to have had the opportunity to serve as president of Richards, Layton & Finger for the past three years. My tenure has been marked by outstanding opportunities and tough challenges—both anticipated and unforeseen. No matter the circumstances, I’m incredibly proud of how our…
Legislation providing that modifications to the trade name registration process in Delaware will be further delayed until February 2, 2026 was adopted by the Delaware General Assembly and signed by the Governor of the State of Delaware on May 27, 2025. Effective February 2, 2026, trade names must be registered with the Delaware Division of Revenue…
On March 25, 2025, Delaware’s governor, Matt Meyer, signed Senate Substitute 1 to Senate Bill 21, enacting significant changes to the Delaware General Corporation Law (the DGCL). The bill, as enacted, reflects the basic principles set forth in the original legislation introduced on February 17, 2025, but includes the recommendations made by the Council of the…
In Khan, et al. v. Warburg Pincus, LLC, et al., C.A. No. 2024-0523-LWW (Del. Ch. April 30, 2025), the Delaware Court of Chancery held, on a motion to dismiss, that an amendment provision in a limited liability company agreement (an “LLC Agreement”) left no gap to fill with the implied covenant of good faith and fair…
On March 25, 2025, Delaware Governor Matt Meyer signed Delaware Senate Bill 21 into law, marking a significant moment in the evolution of American corporate law. This bipartisan legislation amends the Delaware General Corporation Law (DGCL) in response to concerns expressed by Delaware corporations, law firms, and others corporate stakeholders about providing greater clarity and predictability…
Legislation proposing to amend the Delaware Limited Liability Company Act (LLC Act), the Delaware Revised Uniform Limited Partnership Act (LP Act) and the Delaware Revised Uniform Partnership Act (GP Act) (collectively, the LLC and Partnership Acts) has been introduced to the Delaware General Assembly. The following is a brief summary of some of the more significant…