The new Delaware mediation statute

Article Abstract:

Delaware's Voluntary Alternative Dispute Resolution Act addresses many of the concerns that have made businesses reluctant to engage in mediation to resolve commercial disputes. Businesses consent to use mediation before bringing suit by filing a certificate with the state Secretary of State. Legislated mediation offers a formality that simple negotiation lacks, and the statute defines how the mediation will proceed. Since the mediation is mandatory, submitting to mediation is not a sign of weakness and parties will be motivated to make the most of the process.

Negotiation, mediation and arbitration, Commercial law, Dispute resolution (Law), Mediation

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New and unjustified restrictions on Delaware directors' authority

Article Abstract:

The Delaware Supreme Court erred in Paramount Communications, Inc. v. QVC Network, Inc. in striking down agreements made between Paramount and Viacom Inc. in anticipation of a merger. The Court applied a fiduciary standard to the Paramount directors' business decisions that was inconsistent with the gross negligence standard employed in prior case law. The Court usurped the board's decision-making authority and effective required that asking price, and no other business considerations, be the basis for accepting a merger offer.

Cases, Corporate directors, Fiduciary duties, Business judgment rule

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