Chancery Keeps Probe Of $99M Anthem Escrow Hold Moving

Law360 (November 30, 2020, 10:53 PM EST) -- Saying she's "troubled" by an Anthem affiliate's conduct in allegedly unjustifiably holding back $99 million in escrowed funds from its acquisition of three companies, a Delaware Chancery judge allowed discovery on the matter to advance Monday as she weighs the sellers' bid to recover attorney fees.

In a 12-page letter decision, Vice Chancellor Kathaleen S. McCormick deferred ruling on K&P Holding II LLC's motion asking to be awarded legal fees it racked up on account of the alleged bad faith conduct by ATH Holding Co. LLC, Anthem Inc.'s acquisition vehicle. But in addition to expressing her concerns, the judge denied ATH's...

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