At the Delaware Corporate and Commercial Litigation Blog, Francis Pileggi analyzes the Delaware Court of Chancery’s opinion in In re: El Paso Pipeline Partners, L.P. Derivative Litigation.
Gordon Smith of and Jordan Lee of Brigham Young University's J. Reuben Clark Law School have published an article on discretion in exercising fiduciary duties.
From the abstract:
At Family BusinessCast, Tibor Dani interviews Jeff Savlov on best practices related to hiring and employing one's children in family businesses.
In the latest issue of NH Bar News, attorney Matthew Snyder discusses Revenue Procedure 2014-12, which the IRS issued in response to the decision of the US Court of Appeals (for the 3rd Circuit) in
The Delaware Corporate and Legal Services Blog has posted analysis by retiring Delaware Supreme Court Justice Jack Jacobs of recurring issues in corporate governance law.
Professor Benjamin Means of the University of South Carolina School of Law has written an article on the relationship between contract law and family businesses.
Andre Bouchard has been confirmed by the Delaware Senate to serve as the 21st Chancellor of the Delaware Court of Chancery.
Most states' limited liability company statutes contain provisions authorizing indemnification and advancement of legal expenses incurred by managers, officers, and other controlling persons resulting from lawsuits against them in their capacity as such. Generally, these provisions allow the LLC to reimburse (indemnify) these "covered persons" for any legal expenses, except where the court finds bad faith, gross negligence, or some other "bad act," and companies may go a step further and pay such expenses during the pending litigation (advancement), provided that if the covered person is found to have committed a "bad act," the advanced funds must be repaid.