Quadrant Structured Products Company, Ltd. v. Vertin , C.A. No. 6990-VCL (Del. Ch. May 4, 2015) [ an enhanced version of this opinion is available to lexis.com subscribers ].
This Court of Chancery opinion is destined to be cited as a seminal ruling...
In a detailed May 4, 2015 opinion ( here ), Vice Chancellor Travis Laster of the Delaware Chancery Court extensively reviewed the rights of an insolvent company’s creditors to pursue derivative claims against the company’s directors [ an enhanced...
In a case involving multiple ghosts of long lost
companies, a judge in federal court in Manhattan has held that excess D&O
insurers do not have a duty to "drop down" to fill the gaps in coverage caused
by the insolvency of underlying...
CML V, LLC v. Bax, No.
735, 2010 (Del. Supr. Sept. 2, 2011), read Delaware Supreme Court opinion here .
Delaware's High Court confirmed that creditors of an insolvent LLC are not
given standing by the Delaware LLC Act to pursue derivative claims...