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Summaries and analysis of recent Delaware court decisions concerning business-related litigation.
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Court Of Chancery Explains Change Of Control Clause
Posted In Breach of Contract
Wilmington Savings Fund Society FSB v. Foresight Energy LLC, C.A. 11059-VCL (December 4, 2015)
This is a potentially significant decision because it interprets a change in control clause to include a change in beneficial ownership of an entity's securities. Hence, not only actual changes in ownership may trigger such clauses and drafters need to be aware of this point.
Tags: Breach of Contract
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