On January 27, 2022, in Levy Family Investors, LLC v. Oars + Alps LLC the Delaware Court of Chancery (the “Court”) released a memorandum opinion providing clarity with regard to Delaware’s infamous “Anti-Bootstrapping Rule”...more
4/20/2022
/ Acquisition Agreements ,
Bootstrapping ,
Breach of Contract ,
Corporate Sales Transactions ,
Delaware General Corporation Law ,
Fraud ,
Fraudulent Inducement ,
Membership Interest ,
Misrepresentation ,
NCAs ,
Purchase Agreement
In Villareal v. Saenz, a district court magistrate judge for the Western District of Texas, San Antonio Division, has recognized that members exiting a limited liability company may continue to hold fiduciary duties despite...more
The Small Business Administration (SBA) issued a Procedural Notice on October 2, 2020, detailing required procedures impacting Paycheck Protection Program (PPP) borrowers and lenders if: (i) twenty percent or more of the...more
10/13/2020
/ CARES Act ,
Change of Ownership ,
Coronavirus/COVID-19 ,
Corporate Sales Transactions ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Regulatory Requirements ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
The Delaware Court of Chancery (the Court) in In re Homefed Corporation Stockholder Litigation chronicles a controlling stockholder’s failed attempt to use the protections outlined in Kahn v. M & F Worldwide Corp. (MFW) to...more