Elon Law professor Tom Molony analyzed six recent rulings of the North Carolina Business Court, the North Carolina Court of Appeals, the Delaware Chancery Court and the Delaware Supreme Court for the "Business Law Developments" series in the February 2011 edition of "Notes Bearing Interest," a quarterly publication of the Business Section of the North Carolina Bar Association (NCBA).
Molony’s publication is part of a series of articles he has done in the past, sometimes co-authoring with Elon Law professor Andy Haile.
In Molony’s review of High Point Bank & Trust Co. v. Sapona Mfg. Co., a case decided by the N.C. Business Court involving judicial dissolution, he emphasized the importance of addressing and documenting, if appropriate, rights of a shareholder in a closely-held corporation to have his or her shares redeemed by the corporation.
Molony also reviewed In re Dollar Thrifty S’holder Litig., a case out of the Delaware Chancery Court. In the Dollar Thrifty case, the court considered the decision of the board of Dollar Thrifty to enter into a merger agreement with Hertz without first drawing Avis into a bidding contest for Dollar Thrifty. Molony explained that the opinion “offers important guidance as to what the board of a Delaware corporation should consider when deciding whether to enter into a merger agreement without first testing the market.”
Click here for more information about Tom Molony, including links to reports on his prior writings and presentations for NCBA publications and forums.