Updates

Delaware Transactional Law Updates

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If a corporation wants to curtail the power of directors to fill board vacancies, it cannot rely on 8 Del C. § 223(c), but must state the limitation in its certificate or bylaws

Document: Canmore Consultants Ltd. v. L.O.M. Medical International, Inc. C.A. No. 8645-VCG (Del. Ch. September 19, 2013) In the first case before the Court of Chancery turning on application of 8 Del. C. § 223(c), Vice Chancellor Sam Glasscock, III, rejected the...

In determining whether a case should be dismissed based on the equitable doctrine of laches, Delaware courts will not use the statute of limitations to define unreasonable delay if unusual conditions or extraordinary circumstances are present

Document: Levey v. Brownstone Asset Management LP, No. 551, 2012 (Del. August 27, 2013) The Delaware Supreme Court reversed the Court of Chancery, finding that, in the interest of justice, the doctrine of laches by analogy to the statute of limitations should not be...