Superior Court Interprets New Jurisdiction Statute
Posted In Jurisdiction
JCM Innovation Corp. v. FL Acquisition Holdings Inc., C.A. N15C-10-255-EMD-CCLD (September 30, 2016)
Delaware recently amended Section 111 of the DGCL to confer jurisdiction on the Court of Chancery over certain actions arising out of asset sales. The intent was not to divest Superior Court of jurisdiction when the dispute was not really over how to interpret a sale or merger agreement’s terms, an area of Chancery expertise, but more of a straightforward asset sale. This decision explains that distinction.
Tags: Delaware Law, JurisdictionShare