The Delaware Court of Chancery, in Adrian Dieckman v. Regency GP, LP, et al., C.A. No. 11130-CB, memo. op. (Del. Ch. Oct. 29, 2019), found a unitholder’s evidence that a members of a conflict committee were not qualified under the provisions of an LP Agreement precluded application of safe harbors to approval of a conflicted transaction.
NEW: Fried Frank discusses the decision in Approval of Conflicted Transactions in Publicly Traded Limited Partnerships
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Shearman & Sterling discusses the decision in Delaware Court of Chancery Finds Certain Safe Harbor Protections Inapplicable to Approval of Merger with General Partner’s Affiliate.
Morris James discusses the decision in Chancery Finds Safe Harbor Conflicts Committee Not Validly Constituted in Master Limited Partnership Dispute.
Weil Gotshal discusses the decision in Delaware Court of Chancery Declines to Enforce Safe Harbors in Alternative Entity Context.
Locke Lord discusses the decision in Delaware Court Again Finds Conflicted Transaction Safe Harbors Not So Safe.
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