Stockman v. Heartland Industrial Partners, L.P.

Chancery Court decision in Stockman v. Heartland Industrial Partners, L.P.


This case from the Delaware Chancery Court decided important issues relating to the indemnification of private equity and venture capital professionals by their affiliated funds in connection with their service as directors and officers of the funds’ portfolio companies.

The court concluded that silence alone is not sufficient to preclude an important indemnification right that is consistent with Delaware public policy. That is so particularly when that the drafters of the agreement could have explicitly denied automatic indemnification, but did not.

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Reference Info:Decision | State, 3rd Circuit, Delaware | United States

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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