Delaware Business Litigation Report

Court Of Chancery Denies Receivership Petition For Failure To Prove Insolvency

In re: Geneius Biotechnology Inc., C.A. 2017-0297-TMR (December 8, 2017)

This decision explains what is needed to prove a corporation is insolvent so that a receiver should be appointed for it. It is not enough to just use the balance sheet, but instead additional proof of the actual values of assets needs to be provided when those assets may be worth more than their book value.

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