The Delaware Court of Chancery, in In re Altaba, Inc., C.A. No. 2020-0413-JTL, opinion (Del. Ch. Oct. 19, 2020), rules that a dissolved corporation may obtain Court approval for an interim distribution of assets to stockholders on a showing, analogous to that required for summary judgment, of sufficient reserves to satisfy creditor claims.
NEW: K&L Gates discusses the decision in Court of Chancery Allows For Interim Distribution to Stockholders of Altaba, Inc., With Some Conditions.
$$$ Richards Layton & Finger discusses the decision in Court of Chancery Permits $4.3 Billion Interim Distribution in Altaba Dissolution.