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.
The Alabama Legislature has passed the Alabama Limited Liability Company Law of 2014, a substantially revised and restated version of their prior LLC law.
At Above the Law, Dan Harris of the law firm of Harris Moure has thoughts about the futility of attempting to enforce U.S. court judgments against defendants located in China:
Details at bergerharris.com.
We have previously looked at issues surrounding the contractual enforceability of settlement agreements.
As Business Law Basics continues to be formatted and updated for inclusion on this website, we present an excerpt from Chapter 18.
Harvard Law School's Forum on Corporate Governance and Financial Regulation has published a revised version of "Top Ten 2013 Delaware Corporate and Commercial De