In C&J Energy Services, Inc. v. City of Miami General Employees' and Sanitation Employees’ Retirement Trust, the Delaware Supreme Court reversed the Court of Chancery’s decision to grant an “unusual” 30-day preliminary injunction of the merger between C&J Energy Services, Inc., a Delaware corporation, and a division of Nabors Industries Ltd., a Bermuda company.

In In re Family Dollar Stores, Inc. Stockholder Litigation, the Court of Chancery declined to preliminarily enjoin the stockholder vote on the merger of Family Dollar Stores, Inc. and Dollar Tree, Inc., pursuant to which Dollar Tree would acquire Family Dollar for a combination of cash and Dollar Tree stock.

The Delaware Court of Chancery's ruling in Pontiac General Employees Retirement System v. Ballantine, is the most recent statement on so-called "dead hand" proxy puts—the provisions in credit agreements that trigger an acceleration of the borrower's indebtedness upon a change in amajority of its board within a specified timeframe.

In a fact-intensive, 76-page motion to dismiss opinion, the Delaware Court of Chancery largely denied the defendants’ motions to dismiss fraud claims arising out of the sale of Plimus, a private Delaware corporation, to Great Hill, a private equity fund.

Trustees are increasingly being asked to hold trust assets in their name in securitization and other structured finance transactions in which both New York and Delaware trusts are used. This is a reversal of sorts of a principal advantage introduced in the securitization industry in the late 1980s by the Delaware Statutory Trust Act: the trust…

Under an opinion dated October 14, 2014, the Delaware Bankruptcy Court denied opposing motion for summary judgment in a proceeding initiated by the plaintiff-trustee to avoid and recover alleged preferential transfers. The defendant (a pre-petition creditor of the debtor) moved for summary judgment on the ordinary course of business defense, arguing that the payments to it…

Under a memorandum order dated October 23, 2014, the Delaware Bankruptcy Court denied a party’s request to have the debtors’ chapter 11 cases converted to chapter 7 cases. While sympathetic to the movant’s request, the court ultimately determined that the relevant parties were making some progress toward the goal of a plan of reorganization and therefore…

In Octane Fitness LLC v. ICON Health & Fitness, the U.S. Supreme Court evaluated the language in 35 U.S.C. Section 285, a statute that allows for the award of attorney fees to prevailing parties in "exceptional" patent infringement cases, and rejected a restrictive interpretation of the statute by the U.S. Court of Appeals for the Federal Circuit.

On October 9, 2014, in Flintkote Co. v. Aviva PLC, No. 13-4055, the Third Circuit reversed an order holding on an estoppel theory that an insurer was required to arbitrate even though it had no written arbitration agreement with the debtor. The Third Circuit held that the debtor had not presented clear and convincing proof that…

On October 15, 2014, the Delaware Bankruptcy Court confirmed that the Delaware District Court’s new 6:00 p.m. Eastern Time filing deadline does not apply to filings in the Delaware Bankruptcy Court and that the Bankruptcy Court’s Local Rules and related procedures remain in full force and effect. However, the District Court’s new filing procedures do apply…