Date Posted: 1/28/2014
Delaware’s continued preeminence in corporate law is contingent on not only the perception but the reality that the Delaware judiciary is engaged in principled decision making. Corporations should not turn away from courts as dispute-resolution mechanisms, and Delaware provides a blueprint for how to succeed in bringing corporations back to the courts.
Date Posted: 1/8/2014
In an announcement earlier today, Governor Markell nominated Court of Chancery Chancellor Leo Strine, Jr. to Chief Justice of the Delaware Supreme Court. Here is part of Governor’s press announcement: Governor Markell today announced the nomination of Chancellor Leo E. Strine, Jr. to serve as the eighth Chief Justice of Delaware’s Supreme Court. If confirmed […]
Date Posted: 1/7/2014
Mistakes happen. But, the failure of a corporation to adhere strictly to the corporate processes or formalities required by its governing documents or Delaware law may go unnoticed for many years. Often, such errors are uncovered when the corporation is pursuing a transaction of significance and, once revealed, the errors prove difficult or prohibitively expensive to remedy. Effective April 1, 2014, Delaware provides two new paths that corporations may follow to make the correction of these hidden defects simpler and less expensive.
Date Posted: 12/11/2013
Chief Justice Myron T. Steele of the Delaware Supreme Court retired from the bench on November 30 ,2013. Ted Mirvis of Wachtell, Lipton, Rosen & Katz reflects upon Steele’s impact on the development of Delaware corporate law.
Date Posted: 11/21/2013
For decades, business planners have been drawn to Delaware to form business entities. While Delaware’s popularity as a jurisdiction for formation is attributable to a number of factors, most business planners would note the quality of the State’s bench and bar, the entrepreneurial nature of the state government and a General Assembly that is committed to annually updating the business statutes to ensure that they remain state-of-the-art. In 2013, like most years, the Delaware General Assembly passed legislation updating and improving Delaware’s business statutes. One particular legislative change, the adoption of new Section 251(h) to the Delaware General Corporation Law, provides business planners with a new (and novel) way to effect certain corporate mergers.