Del. High Court Remands $1B Enbridge Deal Fairness Ruling

Law360, Wilmington (March 20, 2017, 7:27 PM EDT) -- In an acknowledged change in course Monday, Delaware’s Supreme Court reversed a chancery dismissal of a public unit-holder's challenge to a $1 billion Enbridge Energy Co. LLC pipeline deal in 2015, citing viable claims that Enbridge acted in bad faith.

The high court tacked toward a “more traditional definition of bad faith utilized in Delaware entity law” and away from court interpretations that partnerships are free to violate any specific limited partnership requirement so long as the breach is in good faith.

Peter Brinckerhoff, a master...
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