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.
A shareholder in Puda Coal Inc. asked the Delaware Chancery Court on Thursday to appoint a receiver for the defunct China-based company that was recently hit with a $228 million judgment in New York federal court, arguing the company has a history of disregarding court orders.
Agents for the former shareholders of a pharmaceutical company acquired by an affiliate of AstraZeneca PLC filed suit Thursday in Delaware state court seeking the payment of $275 million they allege is owed from the 2013 merger of the two companies.
A trio of Synutra shareholders slapped the Chinese baby formula company with a suit in Delaware Chancery Court Thursday, urging the court to appraise their shares in the company at the time of its private sale to its largest shareholder and force it to pay them appropriately.
Both the Implant Sciences bankruptcy estate and the U.S. Trustee’s Office balked Thursday at the official equity committee’s bid to hire a consultant as its own solicitation agent for the bomb detection firm’s Chapter 11 plan, a measure the debtor and watchdog argue is unreasonable.
In a case of first impression, the Delaware Chancery Court recently rejected a venture capital firm’s effort to ratify an amendment to a company’s charter that would have forced its founder out of the company. Nguyen v. View highlights the need for both sides to carefully negotiate the voting agreements that establish parties’ roles in guiding the future of a company, say Matthew Rifino and Philip Amoa of McCarter & English LLP.