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Delaware

  • October 25, 2018

    Bankrupt Pipeline Co. Tries To Keep Sunoco Contract Alive

    Bankrupt pipeline builder Welded Construction LP sought a quick temporary restraining order hearing Thursday to block termination of a major Sunoco construction contract, a move Welded said would jeopardize its Delaware Chapter 11 reorganization effort.

  • October 25, 2018

    RadioShack's Contract Claims Trimmed In Del. Sprint Suit

    A portion of the claims lodged by the successor of bankrupt electronics retailer RadioShack in a Delaware Superior Court complaint against former retail partner Sprint Solutions Inc. was tossed Thursday because the allegations were covered by language in their partnership deal, a judge said.

  • October 25, 2018

    Robe Maker Co-Owner Says Partner Took Company Funds

    The co-owner of plush garment maker Kashwere LLC filed suit in Delaware Chancery Court late Wednesday accusing her partner of a yearslong scheme to siphon funds from the company for his own benefit and trying to force her out of her stake in the company.

  • October 25, 2018

    EFH Judge Releases $275M NextEra Reserve To Creditors

    A Delaware bankruptcy judge signed an order Thursday to release a $275 million reserve to unsecured creditors in Energy Future Holdings Inc.'s Chapter 11 after the Third Circuit denied a request to reconsider its ruling that the company didn't have to pay a termination fee after its deal with NextEra Energy Inc. fell apart last year.

  • October 25, 2018

    Member Wants EB-5 Investment Center’s Financial Records

    A member with an ownership stake in Extell New York Regional Center LLC, which gives foreign investors the opportunity for U.S. residency through a federal visa program, has asked the Delaware Chancery Court to order the company to turn over financial records concerning its profits and her ownership interest.

  • October 24, 2018

    UnitedHealth Says Investors Should Wait To Demand Books

    Attorneys for UnitedHealth Group told a Delaware Supreme Court panel Wednesday that shareholders' demands to inspect corporate books and records must not be filed until the allegations the demands are based on have been found viable.

  • October 24, 2018

    3rd Circ. Won't Revisit EFH $275M Breakup Fee Decision

    The Third Circuit on Wednesday denied a request to reconsider its ruling that Energy Future Holdings Inc. should be freed from paying a $275 million termination fee after its deal to sell NextEra Energy Inc. its share of a power distribution system fell apart last year.

  • October 24, 2018

    Facebook To Pay $69M In Atty Fees For Mooted Stock Suit

    Facebook Inc. has agreed to shell out nearly $69 million in attorneys' fees in a mooted shareholder lawsuit over a nixed plan to reclassify the company's stock, according to a deal reached Wednesday in Delaware Chancery Court.

  • October 24, 2018

    Decision Imminent On Woodbridge Ch. 11 Confirmation

    After listening to objections from creditors who contend they have secured claims not recognized under Woodbridge Group of Cos. LLC's Chapter 11 plan and calls from others to move forward with confirmation so victims of a Ponzi scheme can get recovery, a Delaware bankruptcy judge said Wednesday he will soon render a decision in the matter.

  • October 24, 2018

    Backpage Fee Row Sent Back To Del. Chancery Court

    The former owner of Backpage.com won its bid Tuesday to remand back to Delaware Chancery Court its suit seeking legal fees from the embattled advertising website for costs incurred in litigation surrounding Backpage’s alleged facilitation of sex trafficking.

  • October 24, 2018

    NY Wheel Developer Reconsiders After Funding Shortfall

    Challenger Acquisitions Ltd., which owns a minority stake in the incomplete observation wheel in New York City, said Wednesday that it is seeking alternatives to the project after it became apparent there was not enough funding to finish it.

  • October 23, 2018

    Laser Co. Asked Too Late To Disqualify Ex-CEO's Attorney

    Laser weapon manufacturer Applied Energetics Inc. lost its bid Tuesday to have its former attorney disqualified from representing its former CEO in its Delaware Chancery Court suit after a judge said the company took too long to raise its concerns about the lawyer's potential conflicts.

  • October 23, 2018

    Ford, Fiat Chrysler Infringed Cruise Control Patents, Suits Say

    Fiat Chrysler Automobiles and Ford Motor Co. are accused of infringing a New Jersey company’s patents for an adaptive cruise control system in certain vehicles, according to two suits filed in Delaware federal court Tuesday.

  • October 23, 2018

    Drug Rehab Co. Gets Nod For Additional Ch. 11 Financing

    A Delaware bankruptcy judge on Tuesday approved an interim order for addiction treatment facility network EBH TopCo LLC to access up to $18 million in additional post-petition financing to fund its Chapter 11, with a reminder that parties still need to work out ongoing disputes over certain administrative expenses.

  • October 23, 2018

    Attys Weren’t Alerted To Basis For Sanctions, 3rd Circ. Told

    Three Pennsylvania attorneys shouldn’t have been sanctioned for bringing a failed class action on behalf of a patient targeting an orthopedic surgery facility's payment plan, the patient told the Third Circuit on Tuesday, arguing the attorneys didn’t receive due notice of the issue that prompted the sanctions.

  • October 23, 2018

    $38.5M Sale Of Heritage Home 'Nonluxury' Brand IP Gets OK

    Bankrupt furniture retailer Heritage Home Group LLC on Tuesday in Delaware received approval for a Chapter 11 sale of intellectual property for "nonluxury" brands Thomasville and Broyhill for $38.5 million to stalking horse bidder HHG IPCo. LLC, a price driven up roughly $16 million at auction.

  • October 23, 2018

    Fairness Concerns Doom Deal In Goldman Director Pay Suit

    The Delaware Chancery Court on Tuesday rejected a proposed settlement to resolve a shareholder challenge to Goldman Sachs Group Inc. nonemployee director compensation on grounds that the deal would release the claims without fair consideration to the company.

  • October 22, 2018

    Equus Investor Says Equity Perk Suit Should Stay Alive

    A proposed class seeking to undo an approved Equus Total Return Inc. stock incentive plan argued in Delaware Chancery Court on Monday that their complaint claiming not enough information was provided for shareholders about the plan should move forward to trial.

  • October 22, 2018

    Withheld Customer Payment Puts Pipeline Builder In Ch. 11

    An Ohio pipeline builder hit Chapter 11 Monday in Delaware after one of its largest customers withheld a $23 million payment this month and filed a lawsuit alleging that the company breached its contract, it said, putting an immediate strain on its near-term liquidity and creating concern among its remaining customers.

  • October 22, 2018

    Unsecured Creditors Flag Drug Rehab. Co.'s Ch. 11 Financing

    The official unsecured creditors committee objected Monday to drug and alcohol treatment facility network EBH TopCo LLC's proposal for up to $18 million in additional post-petition financing in its Chapter 11, claiming the debtor-in-possession lender is reneging on its agreement to fund certain administrative expenses.

Expert Analysis

  • Know The Limits To Atty Public Statements During A Trial

    Matthew Giardina

    The balancing act between protecting attorneys’ speech rights and ensuring unbiased adjudications was highlighted recently in two cases — when Michael Cohen applied for a restraining order against Stephanie Clifford's attorney, and when Johnson & Johnson questioned whether a Missouri talc verdict was tainted by public statements from the plaintiffs' counsel, says Matthew Giardina of Manning Gross & Massenburg LLP.

  • Clarifying The Scope Of Bankruptcy Code 3rd-Party Injunction

    Craig Goldblatt

    The Third Circuit’s decision last month in W.R. Grace contains valuable lessons for insurers on the benefits that can be obtained by a third-party injunction issued under Section 524(g)(4) of the Bankruptcy Code, say Craig Goldblatt and Nancy Manzer of WilmerHale.

  • Q&A

    A Chat With Faegre Client Development Chief Melanie Green

    Melanie Green

    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.

  • Setting A Framework For Disgorgement Insurance Disputes

    Catherine Doyle

    In TIAA-CREF Insurance Appeals, the Delaware Supreme Court struck a blow to insurers seeking to avoid responsibility for settlement payments made by policyholders. Though decided under New York law, this opinion opens the door to a fact-specific analysis that may help policyholders facing similar denials, say Catherine Doyle and Jan Larson of Jenner & Block LLP.

  • Examining The Role Of Market Price In Appraisal: Part 2

    Dirk Hackbarth

    In response to the Delaware Chancery Court’s invitation earlier this year seeking expert opinions on market efficiency, we propose several tests to empirically assess the reliability of market price in appraising fair value, say Dirk Hackbarth of Boston University and Bin Zhou of The Brattle Group.

  • Why State Marijuana-Impaired Driving Laws Need Reform

    Ian Stewart

    Because current state laws relating to marijuana-impaired driving lack an objective impairment standard, only those who clearly demonstrate impaired driving are likely to be prosecuted and convicted, says Ian Stewart of Wilson Elser Moskowitz Edelman & Dicker LLP.

  • Examining The Role Of Market Price In Appraisal: Part 1

    Dirk Hackbarth

    Delaware Vice Chancellor J. Travis Laster recently cautioned that while courts are now giving greater deference to deal prices and market evidence in determining fair value, this approach does not elevate "market value" to the governing standard under the appraisal statute. His caveat begs at least three finance questions, say Dirk Hackbarth of Boston University and Bin Zhou of The Brattle Group.

  • Why The 3rd Circ. Allowed Removal In Encompass

    Brittany Wakim

    The Third Circuit recently ruled in Encompass v. Stone Mansions that a defendant can remove a case to federal court on the basis of diversity jurisdiction before the plaintiff formally serves the forum state defendant. This may be the first appellate decision on this issue, says Brittany Wakim of Schnader Harrison Segal & Lewis LLP.

  • Resolving M&A Price Disputes: Experts Or Arbitrators?

    Daniel Boland

    A threshold question in post-closing purchase price adjustment disputes is whether the merger agreement’s dispute resolution process is an expert determination or an arbitration. The answer can have a meaningful impact, as seen in the Delaware Chancery Court's decision in Penton Business Media Holdings v. Informa, says Daniel Boland of Pepper Hamilton LLP.

  • Amgen Suit Shows Limitations Of Biosimilar Safe Harbor

    Julia Kolibachuk

    A Delaware federal court's ruling in Amgen v. Hospira last month may indicate a significant narrowing of the patent infringement exception for activities related to obtaining drug approval from the U.S. Food and Drug Administration, say attorneys at Paul Hastings LLP.