Delaware Business Litigation Report

Court Of Chancery Appoints Receiver To Hold Meeting

Rich v Fuqi International Inc., C.A. 5653-VCG (June 12, 2013)

What happens when the Court orders the holding of an annual meeting and the company refuses to do so?  In this decision the Court of Chancery appointed a receiver with the authority to hold the meeting once the receiver determines how to do so without running afoul of the SEC rules requiring audited financial statements the company presently does not have.

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