Publication Date: 2020-09-16
Practice Area: Corporate Governance
Industry: Financial Services and Banking
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: Garrett B. Moritz, Benjamin Z. Grossberg, and S. Reiko Rogozen, Ross Aronstam & Moritz LLP, Wilmington, DE; Kimberly A. Evans and Rebecca A. Musarra, Grant & Eisenhofer P.A., Wilmington, DE; Lance Gotthoffer, Chaitman, LLP, New York, NY; Catherine A. Gaul, Ashby & Geddes, P.A., Wilmington, DE; Michael Hanin and Uri Itkin, Kasowitz Benson Torres LLP, New York, NY; John W. Shaw and Jeffrey T. Castellano, Shaw Keller LLP, Wilmington, DE; Matthew A. Martel, Joseph B. Sconyers, Keith M. Kollmeyer, and Anthony M. Masero, Jones Day, Boston, MA for plaintiffs.
for defendant: Kurt M. Heyman and Melissa N. Donimirski, Enerio Gattuso & Hirzel LLP, Wilmington, DE; Erik Haas, Joshua Kipnees, George A. LoBiondo, Jared Buszin, Peter Shakro, Devon Hercher, and Jonah Wacholder, Patterson Belknap Webb & Tyler LLP, New York, NY; Jason C. Jowers, Stephen B. Brauerman, Brett M. McCartney, and Elizabeth A. Powers, Bayard, P.A., Wilmington, DE; Rebecca L. Butcher and Jennifer L. Cree, Landis Rath & Cobb LLP, Wilmington, DE; John P. Doherty and William Hao, Alston & Bird LLP, New York, NY; Stacey A. Scrivani, Stevens & Lee, P.C., Wilmington, DE for defendants.
Case Number: D69120
Because a precautionary security interest could be created simultaneously with the assignment of pledged collateral, indentured parties who received the assignment granted them the beneficial interests of the property, such that the owners of the trusts that acquired the property owed the indentured parties fiduciary duties through the owners' control over the trusts.
1 minute read
