On July 27, 2022, Delaware Gov. John Carney signed into law amendments to the Delaware Statutory Trust Act (DSTA). These amendments include the addition of new Subchapter III — Control Beneficial Interest Acquisitions...more
The state of Delaware recently amended the Delaware Statutory Trust Act to adopt a control share acquisition statute (the “Control Share Statute”) as an anti-takeover defense. Beginning on August 1, 2022, the effective date...more
While Delaware is nationally known as the preferred jurisdiction for corporations, it is likewise recognized as a leader in the area of statutory trusts. The State of Delaware, in 1988, adopted the Delaware Business Trust...more
In 2004, the Internal Revenue Service (IRS) created a list of “seven deadly sins” for Delaware Statutory Trusts (DSTs) in Revenue Ruling 2004-86 (Rev. Rul. 2004-86). The revenue ruling describes how a DST holding only real...more