Court Of Chancery Upholds Right To Indemnifcation In Face Of Bylaw Amendment
Branin v. Stein Roe Investment Counsel LLC, C.A. No. 8481-VCN (June 30, 2014)
Can a company defeat a former officer's claim for indemnification by simply amending its bylaws? If the right to indemnification has already accrued, such as by the filng of a suit against that director, the short answer is "no."