This update provides short updates on judicial decisions, trends, and notable events in the United States District Court for the District of Delaware, traditionally one of the three busiest jurisdictions for intellectual property litigation.
In commercial real estate transactions, lenders commonly require borrowers to organize as bankruptcy remote entities to limit certain risks associated with a borrower’s bankruptcy filing. This article discusses the fundamentals of using a bankruptcy remote entity to purchase and finance commercial real estate and the key considerations for both lenders and borrowers.
A recent Delaware Supreme Court opinion reinforced Delaware’s “pure race” approach to lien status in the context of mortgage refinancing transactions. In Eastern Savings Bank, FSB v. CACH, LLC, CA No. N13A-09-008 (Sept. 28, 2015),the Delaware Supreme Court held that the doctrine of equitable subrogation (see discussion below) does not apply to a mortgage refinancing absent…
Northstar Fin. Advisors, Inc. v. Schwab Invs., No. 11-17187 (9th Cir. filed Sept. 14, 2011), has generated considerable apprehension in the mutual fund industry, particularly with respect to its discussion relating to the ability of mutual fund shareholders to bring direct actions against fund board members and investment advisors. With the U.S. Supreme Court’s recent denial…
Please join Richards Layton directors Doneene Damon and Greg Varallo and counsel Wes Peterson for a discussion of how the recently enacted Delaware Rapid Arbitration Act (DRAA) may provide advantages in securitization transactions implementing arbitration provisions pursuant to Reg A/B II and otherwise. To learn more about the Delaware Rapid Arbitration Act (DRAA), please see our…
On October 26, 2009, Northern New England Telephone Operations LLC (NNETO) filed a voluntary Chapter 11 petition in the United States Bankruptcy Court for the Southern District of New York. On January 13, 2011, the bankruptcy court confirmed NNETO’s Chapter 11 plan. As of the petition date, NNETO owned several parcels of real property in Concord,…
In Corwin v. KKR Financial Holdings LLC, No. 629, 2014 (Del. Oct. 2, 2015), the Delaware Supreme Court affirmed the Court of Chancery’s grant of defendants’ motions to dismiss with prejudice a suit challenging the acquisition of KKR Financial Holdings LLC ("KFN") by KKR & Co. L.P. ("KKR").
A recent opinion of the Delaware Court ofChancery provides guidance on drafting indemnification and advancement provisions, and clarifiesthe circumstances under which a director or officer may or may not be entitled to advancement “byreason of the fact” of his or her service as such. TheCourt held, among other things, that a provision ofa certificate of incorporation…
A custodian interview is a necessary, but often undervalued, initial step in any litigation. It involves asking your own client where and how files are stored (electronically and in hard copy) and how many potentially responsive documents there may be. If done correctly, it not only ensures that you collect all potentially responsive documents—and perhaps that…
Beginning on December 30, 2015, Delaware employers with four or more employees will be prohibited from discriminating against an employee or an applicant for employment because he or she has been the victim of sexual assault, domestic violence, or stalking.