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Court of Chancery Denies Application for Receiver

Posted In Dissolution

Weir v. JMACK Inc., C.A. 3263-CC (Del. Ch. Sept. 23, 2008)

This decision repeats the settled Delaware law that the Court of Chancery will not appoint a receiver for a solvent Delaware corporation absent extraordinary circumstances. Of course, having a court tell the world that your tax evasion is not "extraordinary" justification for a receiver may have been punishment enough.



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