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Delaware Chancery Court holds that creditor plaintiffs in derivative suits may satisfy standing requirement by showing corporation’s insolvency at time of suit, regardless of later solvency

In Quadrant Structured Products Co., Ltd. v. Vertin, C.A. No. 6990-VCL, 2015 WL 2062115 (Del. Ch.

USA, Delaware, Insolvency & Restructuring, Litigation, Sheppard Mullin Richter & Hampton LLP, Shareholder, Standing (law), Credit derivative, Delaware Court of Chancery
Public works projects and municipal bankruptcies

The good news is that public works construction projects for municipalities are projected to remain a major sector of construction activity for the foreseeable future. The not-so-good news is that municipal bankruptcy filings are on the rise, and they are likely to increase. The issues facing parties under contract with a municipality when it files for bankruptcy protection are playing out nationally in places like Stockton, California, and Detroit, Michigan.

USA, Insolvency & Restructuring, Projects & Procurement, Duane Morris LLP, Bankruptcy, Title 11 of the US Code