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Chancery Consolidates Related Actions Pursuant to Rule 42

By Francis G. X. Pileggi, Esq.

Bank of America v. Steel Partners II (Offshore) Ltd. ; and  Archstone Partners, L.P. v. Lichtenstein , (consolidated cases), Del. Ch., (April 21, 2009), read opinion here.

This Delaware Chancery Court letter ruling involved several actions that were filed to enjoin a proposed restructuring transaction. The court granted a Motion to Consolidate pursuant to Chancery Court Rule 42, based on common issues of fact and law, and to avoid unnecessary costs and delay. The court reasoned that coordinating discovery and briefing on the injunction motion would avoid duplicative efforts.

 

Full post as published by Delaware Corporate and Commercial Litigation Blog on April 25, 2009 (boomark / email).