V.C. Laster Says Stockholder Approval Is Not Required, What Would California Say?
By EsqSocial Corporation 18/12/20
John Jenkins at DealLawyers.com took note yesterday of an interesting ruling by Vice Chancellor J. Travis Laster in Stream TV Networks v. SeeCubic, C.A. No. 2020-0310-JTL (Dec. 8, 2020). On issue in the case was whether Section 271 of the Delaware General Corporation Law requires shareholder approval when an insolvent corporation transfers all or substantially all of its assets to its secured creditors. Vice Chancellor Laster ruled......
By: Allen Matkins