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: Delaware Business Litigation ReportCourt of Chancery Denies Application for Receiver
By Morris James LLP
Weir v. JMACK Inc., C.A. 3263-CC (Del. Ch. Sept. 23, 2008)
This decision repeats the settled Delaware law that the Court of Chancery will not appoint a receiver for a solvent Delaware corporation absent extraordinary circumstances. Of course, having a court tell the world that your tax evasion is not "extraordinary" justification for a receiver may have been punishment enough.
Full post as published by Delaware Business Litigation Report on September 23, 2008 (boomark / email).
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