Author: Amelia Messa

Amelia's practice focuses on business transactions using Delaware alternative entities, including limited liability companies, partnerships (limited and general), and statutory trusts. She assists in all aspects of the operation of Delaware alternative entities, including advising on their formation, governance, reorganization, contract interpretation, fiduciary duties, and dissolution.

Semi-Annual M&A Update

On August 11th , Dorsey presented a review of corporate, alternative entity, and securities law developments of interest to the M&A practitioner, including the latest Delaware decisions. Watch the presentation by Brian Burke, Amelia Messa, and Jonathon Van Horn here.

2021 Delaware Entity Statutory Amendments

Consistent with Delaware’s practice of annually amending its entity statutes to meet the needs of the changing business community, the State of Delaware’s Governor recently signed into law the 2021 amendments to Delaware’s Limited Liability Company Act, Revised Uniform Limited Partnership Act, Revised Uniform Partnership Act (the “RUPA”) and General Corporation Law (the “DGCL”). There were no amendments this year to Delaware’s Statutory Trust Act, which is generally amended every other year. This year’s statutory amendments will go into effect...

Chancery Opinion Provides First Delaware Court Guidance on COVID-19’s Impact on MAE Provisions and Ordinary Court Course Covenants

On November 30, 2020, Vice Chancellor Laster of Delaware’s Court of Chancery issued the first case where the pandemic provided a company with the ability to walk away from its contractual obligations in a sale transaction, analyzing both the material adverse effect (“MAE”) provisions and ordinary course covenants. AB Stable VIII LLC v. MAPS Hotels and Resorts One LLC et al., C.A. No. 2020-0310-JTL (Del. Ch. Nov. 30, 2020). The AB Stable case involved the attempted sale by AB Stable...

Delaware Supreme Court Refuses to Apply Corporate Test in Limited Partnership Books and Records Case

The recent Delaware Supreme Court case of Murfey v. WHC Ventures, LLC serves as a reminder that limited partnerships are contractual in nature and therefore in a books and records demand, legal standards applicable to Delaware corporations may not be applicable. In the Murfey case, limited partners of multiple limited partnerships demanded access to Schedule K-1s of other limited partners for the purpose of valuing their partnership interests.  After their access was restricted, the limited partners brought their demand to...

2020 Updates to Delaware Entity Statute

The State of Delaware typically amends its entity statutes annually to ensure that the statutes are state of the art and most effectively meet the needs of the changing business community.  Consistent with this practice, Delaware’s governor recently signed into law this year’s amendments to the Delaware’s Limited Liability Company Act (the “LLC Act”), Revised Uniform Limited Partnership Act (the “LP Act”), Revised Uniform Partnership Act, General Corporation Law (the “DGCL”) and Statutory Trust Act.  Unlike most years when the...

State of Delaware Entity Statute Update

The State of Delaware typically amends its entity statutes annually to ensure that the statutes are state of the art and most effectively meet the needs of the changing business community.  Consistent with this practice, this year’s amendments to Delaware’s Limited Liability Company Act (the “LLC Act”), Revised Uniform Limited Partnership Act (the “LP Act”), Revised Uniform Partnership Act and General Corporation Law went into effect on August 1, 2019. Notably, the amendments to each of Delaware’s entity statutes establish...