Important Updates by Delaware Chancery Court to Its Practice GuidelinesOn August 23, 2021 by Schnader in Bankruptcy / Restructuring
Richard A. Barkasy published a client alert, “Important Updates by Delaware Chancery Court to Its Practice Guidelines.” Barkasy is chair of Schnader’s Creditors’ Rights and Business Restructuring Practice Group.
One of the reasons that so many corporations and other business entities are formed in Delaware is that their disputes will be resolved in the Delaware Court of Chancery, where the Chancellor and Vice Chancellors are widely considered among the nation’s foremost experts in corporate law. On August 5, 2021, the Court of Chancery updated its “Guidelines for Persons Litigating in the Chancery Court” (the “Guidelines”). Although they are not binding Court rules, the Guidelines “offer best practices for litigating cases in the Court of Chancery.” Familiarity with the Guidelines is a must for all Delaware practitioners and Chancery Court litigants. These updates are a helpful reminder to businesses and their lawyers about the Court’s expectations, and can enhance their ability to obtain a favorable result.