Feeley v. NHAOCG, LLC, is a pending Chancery case involving issues that relate to a contest for control, and which has thus far generated two opinions, highlighted on these pages here and here. A transcript of an oral argument in this case has recently been made available, regarding a claim in the case that has not yet been the subject of an opinion by the court, but the recent transcript at pages 66 to 79, reveals "practice tips" about the mechanics of submitting bills in connection with a claim for advancement of legal fees for applicable officers or managers. ( We have often explained on these pages that transcripts of rulings in the Delaware Court of Chancery are often cited in briefs as valid authority).
Relatively recent Chancery decisions have provided a detailed procedure for submitting regular monthly bills in connection with an advancement claim, along with a process for dealing with disputes about minutiae or overall amount of those monthly legal bills. See, e.g., Danenberg v. Fitracks, (Del. Ch. March 5, 2012)("Danenberg II"), highlighted here. See also Fuhlendorf v. Isilon Sytems, Inc., highlighted here.
In the recent Feeley transcript, the Vice Chancellor (who also authored the Danenberg II decision linked above), provided insights and clarification on the more quotidian aspects of submitting bills for legal fees in connection with an advancement claim. A few bullets points highlighted below should be of practical benefit to practitioners:
Read more Delaware business litigation case summaries and commentary on Delaware Corporate and Commercial Litigation Blog, a blog hosted by Francis G.X. Pileggi, of Eckert Seamans.
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