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Court of Chancery Awards Interest On Advancement

Citrin v. International Airport Centers LLC, C.A. No. 2005-N (Del. Ch. September 7, 2006). This decision awards interest on the fees due to a corporate officer who was wrongly denied advancement of those fees. While this award of interest is the normal rule, the decision is interesting because it dealt with an instance where the corporate defendant had discouraged the plaintiff from even submitting the fees in dispute and then argued that failure to submit a bill precluded interest when the plaintiff prevailed. Not surprising, this effort to avoid interest failed for want of any equity. Share
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