Philip R. Shawe and Elizabeth Elting have settled out of court on long-running issues related to the sale of TransPerfect, a letter from Shawe’s attorney to Delaware Chancery Court stated.
The one-time couple owned a 50-50 share of the New York City-based translation services company, with the case over control ending up in Chancery Court.
While prevailing in the Chancery case, with Elting selling her share, Shawe has remained critical of Chancery Court and a decision to appoint a custodian Robert Pincus during the selling process.
The battle, by some accounts, added up to a quarter of a billion dollars in costs.
The settlement provides for the transfer of Elting’s 50 percent ownership interest in Wordfast, LLC, a company with technology used by TransPerfect as well as real estate holdings in New York and California.
In a letter to Chancellor Andre Bouchard, Shawe’s lawyer said the TransPerfect owner is “similarly dedicated to finding extra-judicial resolution of the remaining disputes in this case.”
The letter expressed hope for a settlement related to billing by Pincus and Skadden Arps. Shawe has claimed billing related to Pincus’ work lacks a detailed listing of services.
The TransPerfect case has continued to reverberate in Delaware.
A group known as Citizens for a Pro-Business Delaware through an affiliated Political Action Committee, claims in a TV campaign that Gov. John Carney has fallen short on issues related to the Black community in the state and corrections system. Critics of Citizens claim Shawe is funding the group.
Carney is running for a second term.