Former TransPerfect co-owner loses bid for reimbursement of legal fees

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Delaware Chancellor Andre Bouchard denied Elizabeth Elting’s request for reimbursement of legal fees related to the sale of the company.
Elting was 50 percent owner of the translation services company TransPerfect. Chancery was the setting of a dispute over selling the company with co-owner Phil Shawe prevailing in the case.
In response to the ruling, Martin Russo, counsel for TransPerfect, said:
“This is another victory for TransPerfect. It is encouraging to see the Chancery Court recognize that due process should stand in the face of swift injustice. As the Chancellor forecasted, if we are forced to further litigate the evidence will show that Ms. Elting was operating outside the conditions of the indemnity provisions and forfeited the right to fees when she refused to allow Shawe to direct the defense.”
Shawe stated, “Today‚Äôs victory was vindicating in that the Chancellor appears to have realized that the cottage industry of lawyers he created by ordering the forced sale of TransPerfect, must be brought to heel, especially with respect to egregious billing practices.”
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