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.

On September 3, 2015, Governor Markell signed into law House Bill No. 177, as amended. This new legislation requires gas and electricity suppliers to maintain a third-party notification system that allows a customer to designate another person to receive notice prior to the termination of service to that customer. More specifically, the bill allows condominiums and…

Many companies are “too broke to go bankrupt.” As the “ABI Commission to Study the Reform of Chapter 11” notes, “anecdotal evidence suggests that Chapter 11 has become too expensive (particularly for small and medium size enterprises),” and more companies are liquidating without attempting to reorganize under federal bankruptcy laws. Those companies often seek alternatives to…

The Court’s very recent decision in In re Kinder Morgan, Inc. Corporate Reorganization Litigation, confirms that the Delaware courts will continue to enforce the language of partnership agreements (and modifications of fiduciary duty in partnership agreements) as written.

Governor Markell signed into law Senate Bill No. 5, as amended, on August 13, 2015. This legislation adds the Benjamin Kuntz Act to the Delaware Uniform Common Interest Ownership Act (“DUCIOA”), authorizing any common interest community created before DUCIOA’s 2009 effective date to amend its governing documents in order to comply with DUCIOA. In particular, a…

On August 11, 2015, Governor Markell signed into law Senate Bill No. 66, as amended. This legislation enables counties and municipalities to create land banks in order to acquire vacant or abandoned property through foreclosure and other means. A land bank will then hold the acquired property until a buyer is found who will redevelop the…