Skadden Atty Appointed Custodian To Sell TransPerfect

Law360, Wilmington (August 13, 2015, 10:38 PM EDT) -- A Delaware Chancery judge Thursday named a Skadden Arps Slate Meagher & Flom partner as the court-appointed custodian to oversee the sale of translation services firm TransPerfect Global Inc., ruling the hopeless deadlock between its warring co-CEOs is threatening the multimillion-dollar global firm's financial future.

In a 103-page opinion that delves into great detail about the years of strife between Elizabeth Elting and Philip Shawe, Chancellor Andre G. Bouchard wrote that the most equitable way to protect the financial future of TransPerfect, which employs roughly 3,500 people and brought in $471 million in revenue in 2014, was to take the battling...

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