After depositors rushed to withdraw funds from Silicon Valley Bank (SVB), on Friday, March 10, 2023, the US bank was closed by the California Department of Financial Protection and Innovation (DFPI), and the Federal Deposit Insurance Corporation (FDIC) was named receiver of the closed bank.
USA, Banking, Insolvency & Restructuring, Cooley LLP, Federal Deposit Insurance Corporation (USA), HSBC, Silicon Valley Bank
Chancery Court Reexamines the Limits of Indemnification of Corporate Directors, Officers, and Others
In Dore v. Sweports, Ltd., C.A. No. 10513-VCL (Del. Ch. January 31, 2017), plaintiffs John A. Dore, Michael J. O’Rourke, and Michael C. Moody (together, “Plaintiffs”) sought indemnification under the Delaware General Corporation Law (“DGCL”) and corporate bylaws, for expenses incurred in connection with three legal proceedings that occurred in Illinois, as well as those incurred enforcing their indemnification rights in Delaware.
Background
USA, Delaware, Illinois, Company & Commercial, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, K&L Gates LLP, Delaware General Corporation Law, Delaware Court of Chancery