by VeloCap Media | Dec 30, 2015 | Law Updates, LU15
PECO Logistics, LLC v. Walnut Investment Partners, L.P., C.A. No. 9978-CB (December 30, 2015) The Court of Chancery was asked to interpret a “Put Right” provision (the “Put Right”) in an LLC Operating Agreement, which provided: “During the period that is between 30...
by VeloCap Media | Dec 23, 2015 | Law Updates, LU15
Tulum Management USA LLC v. Casten, C.A. No. 11321-VCN (December 23, 2015) The Court of Chancery examined the following indemnification language in an LLC Operating Agreement: The Company shall “indemnify each Manager for all costs, losses, liabilities and damages...
by VeloCap Media | Dec 3, 2015 | Law Updates, LU15
Rexam v. Berry Plastics Corporation, C. A. No. 10596-VCN (December 3, 2015) The Court of Chancery examined a closing condition that there be “no pending or threatened legal or administrative action” related to an Equity Purchase Agreement pursuant to which the buyer...
by VeloCap Media | Nov 24, 2015 | Law Updates, LU15
Prairie Capital III, L.P. v. Double E Holding Corp., C.A. No. 10127-VCL (November 24, 2015) The Court of Chancery dismissed claims of fraud in connection with the sale of a portfolio company from one private equity firm to another. The buyer claimed that the seller...
by VeloCap Media | Nov 20, 2015 | Law Updates, LU15
Tulum Management USA LLC v. Casten, C.A. No. 11321-VCN (November 20, 2015) The Delaware Court of Chancery weighed the policy of resolving all claims related to a dispute in the court in which an action is first filed against Delaware’s policy of summarily resolving...
by VeloCap Media | Nov 19, 2015 | Law Updates, LU15
Swomley v. Schlecht, et. al., C.A. No. 9355-VCL (November 19, 2015) The Delaware Supreme Court confirmed that a minority-shareholder’s challenge to a “going private” transaction will be reviewed under the business judgment standard rather than the more demanding...
