COVID-19: Distressed M&A in the Era of a Pandemic--Part 3

Introduction

Filed under:
USA, Corporate Finance/M&A, Insolvency & Restructuring, K&L Gates LLP, Coronavirus
Authors:
Calvina Bostick , Sumner C. Fontaine , Aaron S. Rothman , Kevin P. Stichter , Margaret R. Westbrook
Location:
USA
Firm:
K&L Gates LLP
Revlon and unocal enhanced scrutiny rejected for dissolution plan

In Huff Energy Fund v. Gershen, C.A. No. 11116-VCS, the Delaware Court of Chancery dismissed a stockholder’s challenge to the board of director’s decision to dissolve the company following an asset sale. The Court ruled that the enhanced scrutiny standards of Revlon and Unocal do not supplant the business judgment rule in the context of a company’s decision to dissolve.

Filed under:
USA, Delaware, Company & Commercial, Insolvency & Restructuring, Litigation, K&L Gates LLP, Shareholder, Fiduciary, Board of directors, Business judgement rule, Unocal Corporation, Delaware Court of Chancery
Authors:
Kevin P. Stichter , Nathan G. Harrill
Location:
USA
Firm:
K&L Gates LLP