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Expert Analysis

What Distressed Cos. Can Take Away From Quadrant V. Vertin

Law360, New York ( May 28, 2015, 2:51 PM EDT) -- On May 4, 2015, the Delaware Court of Chancery issued an opinion in Quadrant Structured Products Co. Ltd. v. Vertin that provides important guidance to those counseling distressed Delaware corporations and their stakeholders. The issue in Vertin was whether a creditor suing derivatively on behalf of an insolvent corporation loses standing to maintain that lawsuit if the corporation becomes solvent while the lawsuit is pending. In a matter of first impression, the Court of Chancery held that the creditor does not lose standing, but rather standing is determined as of the date the suit was filed....

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