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   State Courts - Delaware - October 13 - October 14, 2005
  
Cover & Rossiter, P.A. v. Flickinger-McConnell, L.P., C.A. No. 1224-N, COURT OF CHANCERY OF DELAWARE, NEW CASTLE, October 13, 2005, Decided
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Gatz v. Ponsoldt, Civil Action No. 174-N, COURT OF CHANCERY OF DELAWARE, SUSSEX, October 13, 2005, Decided
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Overview: Transactions were many and complex so public shareholders, when repleading direct claims, were required to walk court through recapitalization's essential parts, fact-by-fact. Shareholders were to explain by what mechanism inflated liquidation value permitted preferred shareholders to receive more in recapitalization then they otherwise would have.

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Jacobson v. Ronsdorf, C.A. No. 518-N, COURT OF CHANCERY OF DELAWARE, NEW CASTLE, October 13, 2005, Submitted , October 13, 2005, Decided
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Proctor v. Foraker, No. 429, 2005, SUPREME COURT OF DELAWARE, October 13, 2005, Decided
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Blackmore Ptnrs., L.P. v. Link Energy LLC, C.A. No. 454-N, COURT OF CHANCERY OF DELAWARE, NEW CASTLE, October 14, 2005, Decided
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Overview: Insolvent LLC's directors facing pressing and worsening situation, LLC's bankruptcy, and fiduciary duties to creditors sold substantially all of LLC's assets to extract value for the LLC. Presumption that directors acted in good faith exercise of fiduciary duties to owners under business judgment rules was not rebutted even under enhanced scrutiny.

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Peden v. Gray, No. 188, 2005, SUPREME COURT OF DELAWARE, October 14, 2005, Decided
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Overview: Because of an ambiguity in the closing date in an addendum to a real estate contract, the trial court properly considered parol evidence to determine the parties' intent; because the buyers were not ready, willing, and able to proceed by the agreed-upon extended settlement date, their motion for specific performance was properly denied.

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Upshur v. Justice of the Peace Court No. 17, C.A. No. 05A-04-001 THG, SUPERIOR COURT OF DELAWARE, SUSSEX, October 14, 2005, Decided
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Overview: Because a tenant failed to preserve the issue that she was not given the seven-day eviction notice required by Del. Code Ann. tit. 25, ? 5513 by raising it in either of the Justice of the Peace trials, the tenant was not entitled to certiorari relief.

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