Del. Justices Asked To Review AIB Bulgarian Bank Dispute

Law360, Wilmington (March 17, 2017, 7:47 PM EDT) -- Private investors urged Delaware’s top court Thursday to reverse a Chancery Court decision obliging them to sue Allied Irish Banks PLC in Bulgaria to enforce a $41 million tender offer right, saying the ruling wrongly penalized them for prior litigation in Illinois.

The Gramercy Emerging Market Funds also claimed that Vice Chancellor Sam Glasscock III’s decision would force Gramercy into the alleged “rampant corruption” of Bulgaria’s backlogged court system, where a filing fee of up to $3.2 million would be needed just to begin the process....
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