Court of Chancery Holds Final Means Final
In the latest decision in the long running saga of Conrad Black, the Court of Chancery has decided that he is entitled to advancement of his legal fees until his appeals from his criminal conviction are concluded. The holding turns on the phase that required advancement until there was a "final disposition" of Black's case. The Court held that included all appeals. The conclusion seems almost unavoidable for all the persuasive reasons given by the Court.
This case involved many millions of dollars in fees and illustrates that such "blank check" advancement provisions can be very expensive indeed.Share