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The Delaware Bankruptcy Insider is a premier blog designed to bring its readers a comprehensive analysis of the latest Delaware corporate bankruptcy news and rulings. Brought to you by Ashby & Geddes, P.A.
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Recent Posts
- Getting Noticed in the Digital Age: Delaware Bankruptcy Court Finds Email Notice Satisfies Due Process but Not Rule 2002
- Third Circuit Reversal Paves the Way For NextEra to Potentially Recover Administrative Expenses Incurred in Connection With Failed Merger
- Delaware District Court Disagrees with Bankruptcy Court’s Ruling and Holds That Committee’s Challenge Rights Survived Entry of the Sale Order and Consummation of Sale
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For more information
Fee-Shifting Provision in a Non-Stock Corporation’s Bylaws Can Be Valid and Enforceable Under Delaware Law
ATP Tour, Inc. v. Deutscher Tennis Bund (German Tennis Federation), No. 534, 2013 (Del. May 8, 2014)
On May 8, 2014, the Delaware Supreme Court addressed the validity of a fee-shifting provision in a Delaware non-stock corporation’s bylaws, holding that such a provision can be valid and enforceable under Delaware law if adopted by the appropriate corporate procedures and for a proper corporate purpose.
The fee-shifting issues considered by the Supreme Court in ATP Tour came in the form of certified questions from the Delaware District Court. The District Court has presided over disputes between ATP Tour, Inc…. Read More