A federal judge on Thursday ruled that Delaware Chancery Court’s new arbitration option did not meet legal requirements.
The secret process had been offered as an option for corporations wishing to resolve disputes. However, the visiting judge in Philadelphia ruled that the process resembles a trial.
The ruling was a blow for the nation’s leading business court, which came under further scrutiny with a ruling that gave lawyers for shareholders more than $300 million in a dispute over the value of a sale of a mining operation in Mexico.
That ruling was back in the news when the Delaware Supreme Court upheld the award to lawyers as part of a $2 billion settlement in the case.
Click on the link below for a link to the story from the New York Times:
via Judge Rules Against Delaware Court’s Use of Arbitration – NYTimes.com.
