Delaware Chancery Upholds Waiver of Appraisal Rights
John Bradley and David Rosenfield were published in CCR Corp Deal Lawyers with their article, “ Delaware Chancery Upholds Waiver of Appraisal Rights.” They discuss the recent ruling from the Delaware Court of Chancery that holds that the Delaware General Corporation Law “does not prevent sophisticated owners of a corporation from waiving statutory appraisal rights in advance as part of a negotiated agreement.” They write, “The Court’s decision provides clear authority that advance waivers of appraisal rights are permitted under Delaware law provided the relevant contractual provisions are clear and unambiguous. Practitioners and companies should ensure that waivers of appraisal rights are carefully drafted to avoid successful challenge on grounds of clarity and ambiguity.”