Court Of Chancery Explains Borrowing Statute
By Morris James LLP on January 23, 2015
TrustCo Bank v. Mathews, C.A. 8374-VCP (January 22, 2015)
There is perhaps no more confusing subject in Delaware non-corporate law than the application of the Delaware borrowing statute to statute of limitations issues. Under Supreme Court case law, the literal application of the borrowing statute is avoided under certain limited circumstances, often involving a plaintiff trying to avoid liability by forum shopping. In any case, this decision explains very well how to apply the borrowing statute.