In Lola Cars International Ltd. v. Krohn Racing, LLC, the Delaware Court of Chancery interpreted an LLC agreement with respect to and otherwise discussed judicial dissolution of a Delaware LLC.

On March 22, 2010, the U.S. Court of Appeals for the Third Circuit addressed whether pursuant to a plan of reorganization a debtor may sell assets free and clear of all liens at an auction at which the secured creditor is not permitted to credit bid.

The Delaware courts have addressed a number of significant issues over the past year relating to alternative entities formed under the Delaware Revised Uniform Limited Partnership Act and the Delaware Limited Liability Company Act.

The Honorable John J. Thomas of the Bankruptcy Court for the Middle District of Pennsylvania issued an opinion of apparent first impression under section 547(c)(9) of the Bankruptcy Code. Section 547(c)(9) provides that the trustee in a case filed by a debtor whose debts are not primarily consumer debts may not avoid a transfer under section 547 if “the aggregate value of all property that constitutes or is affected by such transfer is less than $5,475.”

The Delaware Supreme Court recently affirmed the Court of Chancery's May 2009, opinion in San Antonio Fire & Police Pension Fund v. Amylin Pharmaceuticals, Inc. in a summary order.

Information regarding a new law that expands FMLA coverage, exigency leave and caregiver leave.

Whether they are seeking to improve their governance score, or are responding to specific calls from significant or activist stockholders, many boards have considered eliminating their staggered boards.

This article reviews some of the many factors that a corporation may consider when adopting a proxy access bylaw under Delaware law and compares the flexible bylaw provisions to the fixed analogues of the proposed mandatory federal regime.