Tag: chancery court rule 56(c)

Chancery Court Grants Summary Judgment for Dissolution of Corporation owned 50% by Two Stockholders Where Judicial Admissions Establish Prerequisites for Intervention

By: Chris Cunningham and Will Smith

In Benjamin Feldman v. YIDL Trust, C.A. No. 2017-0253-AGB (Del. Ch. November 7, 2017), plaintiff Benjamin Feldman brought a motion for summary judgment under Court of Chancery Rule 56 for dissolution of a jointly-held Delaware corporation pursuant to 8 Del. C. § 273. The Delaware Court of Chancery granted the motion, holding that YIDL Trust made voluntary and knowing concessions of fact during the judicial proceedings that conclusively established the prerequisites for a judicial order of dissolution under Section 273.

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Director’s Breach of Contract Lawsuit Found to Violate the Underlying Contract’s Confidentiality Clause

By: David Forney and Benjamin Kendall

In Cappella Holdings, LLC v. Anderson, C.A. No. 9809-VCS (Del. Ch. Nov. 29, 2017), the Chancery Court dismissed a director’s breach of contract claims against his former employer relating to alleged violations of an anti-dilution provision in his employment agreement.  The Court instead found that the director’s initial complaint, which included highly sensitive information about the company, violated the confidentiality provision of the underlying contract on which his claims were based.

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