Recent Posts

Advancement Claim Addressed in Receivership Context
Posted on 2 Aug 2015 by Francis G.X. Pileggi

The Delaware Court of Chancery opinion in Andrikopoulos v. Silicon Valley Innovation Company, LLC, C.A. No. 9899-VCP (Del. Ch. July 30, 2015), addressed the priority of an advancement claim in the context of a receivership under Delaware law [subscribers... Read More

Rare Rejection of Advancement Claim
Posted on 8 Sep 2015 by Francis G.X. Pileggi

In the recent Chancery decision of Lieberman v. Electrolytic Ozone, Inc., C.A. No. 10152-VCN (Del. Ch. Aug. 31, 2015), the court rejected claims for advancement by former officers and directors who sought to have their former company pay for the attorneys’... Read More

Somewhat Rare Denial of Advancement Claim in the Delaware Court of Chancery
Posted on 17 Sep 2015 by Francis G.X. Pileggi

In a rare denial of a claim for advancement, the Delaware Court of Chancery in the opinion styled Charney v. American Apparel, Inc. , C.A. No. 11098-CB (Del. Ch., Sept. 11, 2015), rejected the claims by a former chairman and CEO (and founder), based on... Read More

A Trio of Delaware Decisions Reaffirms Corporate Director Protections
Posted on 17 Nov 2015 by Kevin M. LaCroix

Because the vast majority of U.S. publicly traded companies are incorporated in Delaware, legal developments in Delaware have a particularly important impact on legal standards governing corporate conduct in the U.S. Delaware law is particularly influential... Read More

Delaware Court of Chancery Invalidates Attempt of Majority Stockholder to Appoint Officers
Posted on 10 Aug 2015 by Francis G.X. Pileggi

In Gorman v. Salamone, C.A. No. 10183-VCN (Del. Ch. July 31, 2015), the Court of Chancery affirms the board-centric foundation of Delaware corporate law, and describes the limitation on the ability of a majority stockholder to appoint officers directly–even... Read More