Schnader’s Richard A. Barkasy and Daniel M. Pereira authored “Will other courts give ‘disclosure only’ settlements closer scrutiny like Delaware?” published in Westlaw Journal Delaware Corporate in January, 2017.
Shareholder complaints quickly followed by disclosure-only settlements have become standard operating procedure in the corporate merger context. These suits typically result in modest supplemental disclosures in exchange for a broad release of claims and attorneys’ fees for plaintiffs’ counsel.
Contact: Andrew Shute, Partner and Ben Hall, Special Counsel
Lawyers (and judges) have sometimes been accused of being Luddites, concerned about the pace of technological change, and what this might mean for the practice of law and the administration of justice. Increasingly however, courts and legal practitioners have been embracing technology, aware of its important role in facilitating the efficient, timely and cost-effective conduct and resolution of civil litigation.
In issue 13 of the State Gazette dated 07.02.2017 was promulgated an Act supplementing the Civil Procedure Code (CPC). It establishes chapter fifty-sixth "a" in connection with the implementation of Regulation (EU) № 655/2014.
Regulation (EU) No 655/2014 of the European Parliament and of the Council of 15 May 2014 establishing a European Account Preservation Order procedure to facilitate cross-border debt recovery in civil and commercial matters applies from 18.01.2017. It should be borne in mind that the UK and Denmark are not participating in the adoption of the Regulation and are not bound by it nor are they subject to its application.
Most professionals will have found themselves, at some stage in their career, giving free advice to a friend as a favour. Sometimes, the favour might extend to not just giving advice but actually doing a piece of work for a friend at no cost. What you probably don’t expect in return for that generosity is to be sued if things go wrong, which is what happened in the recent Court of Appeal case of Lejonvarn v Burgess.
The question of when a binding contract is formed has been re-examined in the recent case of Global Asset Capital v Aabar Block, where Global tried to enforce an oral deal surrounded by written communications which did not make the terms of the agreement clear. The case is a useful reminder of the importance of clear and consistent communications when you are negotiating, and the need for certainty when forming a contract.