Journal of Business & Technology Law
Business Court News and Developments
- Mar. 26th, 2009
- A post on the North Carolina Startup Blog discussed a recent decision by the North Carolina Business Court in a dispute over dilluted ownership in a closely-held business. The court ordered the majority shareholders to restore the ownership interest of the minority and provide the right to be bought out as a fair value.
- Mar. 26th, 2009
- The Winston-Salem Journal reported that Novant Health, Inc., dropped litigation challenging Wake Forrest University Baptist Medical Center's attempt to build a new hospital facility. Filed in the North Carolina Business Court, Novant's decision comes after the North Carolina Court of Appeals prevented Novant from opposing a hospital proposal already conditionally approved.
- Mar. 13th, 2009
- An article in the New Hampshire Business Review reports that if the Govenor's budget is approved the state will be appointing the first business court judge. The state is emphasizing that the business court judge will help to alleviate congestion in the courts and speed up the court system's capacity to handle both the general and specialized docket.
- Mar. 9th, 2009
- On Monday March 9, Dow Chemical Co. agreed to go through with its purchase of Rohm and Haas Co. reaching a settlement after the two sides were scheduled to go to a trial over Dow's refusal to close the deal, reports NewsDaily. The two companies had been negotiating the takeover, and in January Rohm and Haas sued Dow for failure to close the deal. The companies were scheduled to go to trial on Monday in the Delaware Court of Chancery, but they asked for a delay in order to continue negotiating. The two reached an agreement later that day.
- Mar. 8th, 2009
- The Portland Press Herald reports that Maine's business court program has been very successful and created a pro-business atmosphere in the state. The Business and Consumer Court has streamlined complex business cases for fast resolution and allowed entrepreneurs to run their business instead of being tied-up in litigation.
- Mar. 8th, 2009
- A recent article in the Portland Press Herald praises the success of Maine's two year old Business and Consumer Court. The article notes that the court has streamlined these cases which should make Maine a more attractive place to do business. Currently judges on the business court split their time between the business docket and other duties, the judges hope that in the future they will be able to dedicate more time to the Business and Consumer Court.
- Mar. 6th, 2009
- Reuters reported that Dow Chemical and Rohm and Haas Co. were moving closer to settling litigation that resulted from Dow's failure to close the merger of the two companies announced in July 2008. This is a positive development for Dow, as Dow is thought to have the weaker hand in the Delaware Chancery Courts, where the suit has been filed.
- Mar. 3rd, 2009
- The North Carolina Business Litigation Report reported that a North Carolina federal District Court ruled that No-Compete Agreements must establish a reasonable basis for enforcement of the agreement, warning that the Agreements cannot prohibit the former employee from working "in any other relationship or capacity whatsoever."
- Feb. 27th, 2009
- The Providence County Superior Court in Rhode Island is putting its business calendar on hold. Presiding Justice Joseph F. Rodgers Jr. commented to the Providence Journal that because of the grawing backlog of other cases, the business calendar must be put on hold in order to address the 105 cases waiting for trial. Justice Rodgers notes that with the economic downturn and the number of businesses facing trouble this is a terrible time to put the business calendar on hold, but he's hoping members of the bar will be able to influence the Govenor to fill the vacancies in the judiciary.
- Feb. 20th, 2009
- The Charlotte Business Journal reported a lawsuit was recently filed in the Mecklenburg Superior Court in North Carolina. The lawsuit alleges that an attorney and his firm defrauded Bank of America's Kittly Hawk branch for over $13 million.
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