Settlement in Bankruptcy
Please click HERE to listen to an audio recording of this program from the Sound Advice Series of the ABA Bankruptcy & Insolvency Litigation Committee. …
Introducing Delaware’s Rapid Arbitration Act
The newly enacted Delaware Rapid ArbitrationAct provides an expedient and efficient method ofresolving disputes. It is worthy of consideration inany commercial arrangement.…
In re El Paso Pipeline Partners, L.P. Derivative Litigation: Delaware Court of Chancery Awards Damages in a Lawsuit Challenging an MLP Dropdown Transaction
Delaware courts have consistently held, in the context of Delaware limited partnerships, that clear, express and unambiguous language modifying default fiduciary duties will be enforced.
Delaware Adopts Rapid Arbitration Act
On April 2, 2015, Delaware Governor Jack Markell signed into law the Delaware Rapid Arbitration Act (DRAA), a new, specialized arbitration statute. This legislation provides a quick and inexpensive process for starting an arbitration proceeding, accelerates the arbitration itself to ensure a swift resolution, eliminates confirmation proceedings, and allows for either contractual rights to appeal or…
Delaware Adopts Rapid Arbitration Act
On April 2, 2015, Delaware Governor Jack Markell signed a highly specialized arbitration statute into law: the Delaware Rapid Arbitration Act.
2015 Amendments to the General Corporation Law of the State of Delaware
Legislation proposing to amend the General Corporation Law of the State of Delaware has been approved by the Corporation Law Section of the Delaware State Bar Association and is expected to be introduced to the Delaware General Assembly.
Court Sanctions Forum Selection Arrangements and Confirms Power to Restrict Books and Records Inspections
In United Technologies Corp. v. Treppel, theDelaware Supreme Court unanimously reversedthe Court of Chancery’s ruling denying thedefendant’s request to restrict the use of informationobtained in plaintiff’s inspection ofbooks and records to actions in the Delawarecourts.
Litigating Fiduciary Duty Claims in Bankruptcy Court and Beyond: Theory and Practical Considerations in an Evolving Environment
Litigation against directors and officers is ubiquitous in bankruptcycourts. Indeed, charges of director malfeasance and breach of fiduciary duty areleveled at the outset of many bankruptcy cases—whether in the hallways outside offirst day hearings or creditors committee formation meetings, in early hearings, orin pre-petition letter writing campaigns aimed at encouraging or discouragingspecific board actions. These charges…
Delaware Innovates to Create a World-Class Arbitration Regime
On March 11, 2015, the Delaware State Bar Association gave its formal approval to HB 49, which was filed yesterday in the Delaware Legislature. If passed by the Legislature, the bill, which bears the title the Delaware Rapid Arbitration Act, will establish Delaware as a cutting-edge seat for business arbitrations.
The Current State of Fee-Shifting Provisions
On March 6, 2015, the Council of the Corporation Law Section of the Delaware State Bar Association released proposed legislation that would amend the Delaware General Corporation Law to invalidate fee-shifting provisions in the certificate of incorporation or bylaws of a stock corporation.