Delaware Law360 provides breaking news and analysis on legal and regulatory issues in Delaware. Coverage includes high-stakes litigation, policy developments, and corporate deals affecting the state.
The company contracted to design and build a large observation wheel in Staten Island, New York, reached a deal with the wheel’s owners Thursday in Delaware to allow the bankrupt design company interim access to post-petition financing to be used to pay storage costs for large amounts of components for the wheel.
The Delaware Supreme Court on Thursday reversed the Chancery Court’s appraisal decision of Dell Inc.’s $25 billion buyout that said it was underpriced by roughly $7 billion, ruling that Vice Chancellor J. Travis Laster’s analysis was “based on several assumptions that are not grounded in relevant, accepted financial principles.”
Delaware’s Supreme Court on Wednesday clarified the limits of business judgment protections for stockholder-approved equity incentive awards, reviving a stockholder suit challenging a regional bank’s $51.5 million award package for directors and officers.
Whether business magnate Elon Musk actually controls Tesla Inc., the electric carmaker he had a hand in founding, took center stage Wednesday in the Delaware Chancery Court as the company pushed to have a shareholder challenge to its $2.6 billion acquisition of SolarCity Corp. thrown out.
Bankrupt women's accessories retailer Charming Charlie Holdings Inc. received interim approval Wednesday in Delaware for a two-part post-petition financing plan that will see $10 million of new money injected into the company to help it maintain operations at core stores going forward.