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10 Delaware opinions name it 2 courts 1946–2022 2 in the last five years
The cases below were cited by Delaware courts in a sentence that names this issue. Sides come from how each citing opinion treated the case (Syfertize flag on that citation), so a case can appear on both: that is where the law is contested. A red or yellow chip is the case's own overall treatment.
| Case | Followed | Cited |
|---|---|---|
Geyer v. Ingersoll Publications Co.green2 sentences2014See In re NCS Healthcare, Inc., S’holders Litig., 825 A.2d 240, 256 (Del.Ch.2002) ("as directors of a corporation in the ‘zone of insolvency,’ the NCS board members also owe fiduciary duties to the Company’s creditors"), rev'd sub nom., Omni Care, Inc. v. NCS Healthcare, Inc., 822 A.2d 397 (Del.2002); Geyer v. Ingersoll Publ’ns Co., 621 A.2d 784, 787 (Del.Ch.1992) ("neither party seriously disputes that when the insolvency exception does arise, it creates fiduciary duties for directors for the benefit of creditors”); id. at 790 ("fiduciary duties to creditors arise-when one is able to establis 2014See In re NCS Healthcare, Inc., S’holders Litig., 825 A.2d 240, 256 (Del.Ch.2002) ("as directors of a corporation in the ‘zone of insolvency,’ the NCS board members also owe fiduciary duties to the Company’s creditors"), rev'd sub nom., Omni Care, Inc. v. NCS Healthcare, Inc., 822 A.2d 397 (Del.2002); Geyer v. Ingersoll Publ’ns Co., 621 A.2d 784, 787 (Del.Ch.1992) ("neither party seriously disputes that when the insolvency exception does arise, it creates fiduciary duties for directors for the benefit of creditors”); id. at 790 ("fiduciary duties to creditors arise-when one is able to establis | 3 | 4 |
Fowler v. Doangreen1 sentence2022See, e.g., Casey v. Beeker, 321 So. 3d 662 , 670 (Ala. 2020) (concurring opinion) (discussing how treatises are only persuasive authority, may differ in applicability by jurisdiction, and can vary in persuasiveness based on the relevance and age of the source); Blumenthal v. Brewer, 2016 IL 118781, ¶ 82 , 69 N.E.3d 834, 859 (“[D]ecisions from other state courts and secondary sources are not binding on [the Supreme Court of Illinois] . . . .”); Cadillac Rubber & Plastics, Inc. v. Tubular Metal Sys., LLC, 331 Mich. App. 416 , 425, 952 N.W.2d 576 , 581 n.2 (2020) (“Treatises are not binding autho | 1 | 1 |
Blumenthal v. Brewergreen2 sentences2022See, e.g., Casey v. Beeker, 321 So. 3d 662 , 670 (Ala. 2020) (concurring opinion) (discussing how treatises are only persuasive authority, may differ in applicability by jurisdiction, and can vary in persuasiveness based on the relevance and age of the source); Blumenthal v. Brewer, 2016 IL 118781, ¶ 82 , 69 N.E.3d 834, 859 (“[D]ecisions from other state courts and secondary sources are not binding on [the Supreme Court of Illinois] . . . .”); Cadillac Rubber & Plastics, Inc. v. Tubular Metal Sys., LLC, 331 Mich. App. 416 , 425, 952 N.W.2d 576 , 581 n.2 (2020) (“Treatises are not binding autho 2022See, e.g., Casey v. Beeker, 321 So. 3d 662 , 670 (Ala. 2020) (concurring opinion) (discussing how treatises are only persuasive authority, may differ in applicability by jurisdiction, and can vary in persuasiveness based on the relevance and age of the source); Blumenthal v. Brewer, 2016 IL 118781, ¶ 82 , 69 N.E.3d 834, 859 (“[D]ecisions from other state courts and secondary sources are not binding on [the Supreme Court of Illinois] . . . .”); Cadillac Rubber & Plastics, Inc. v. Tubular Metal Sys., LLC, 331 Mich. App. 416 , 425, 952 N.W.2d 576 , 581 n.2 (2020) (“Treatises are not binding autho | 1 | 1 |
A.W. Financial Services, S.A. v. Empire Resources, Inc.green1 sentence2021See id. (noting that “repeal by implication is disfavored,” and that it only occurs if “both cannot be carried into effect” (quoting 15A C.J.S. | 1 | 1 |
Peltz v. Hattengreen1 sentence2015However, this may be a misnomer because the Balance Sheet Test is based on a fair valuation and not based on [GAAP], which are used to prepare a typical balance sheet.”); Peltz v. Hatten, 279 B.R. 710, 743 (D.Del.2002) ("While the inquiry is labeled a ‘balance sheet’ test, the court's insolvency analysis is not literally limited to or constrained by the debtor’s balance sheet. | 1 | 1 |
In Re NCS Healthcare, Inc., Shareholders Litigationgreen1 sentence2014See In re NCS Healthcare, Inc., S’holders Litig., 825 A.2d 240, 256 (Del.Ch.2002) ("as directors of a corporation in the ‘zone of insolvency,’ the NCS board members also owe fiduciary duties to the Company’s creditors"), rev'd sub nom., Omni Care, Inc. v. NCS Healthcare, Inc., 822 A.2d 397 (Del.2002); Geyer v. Ingersoll Publ’ns Co., 621 A.2d 784, 787 (Del.Ch.1992) ("neither party seriously disputes that when the insolvency exception does arise, it creates fiduciary duties for directors for the benefit of creditors”); id. at 790 ("fiduciary duties to creditors arise-when one is able to establis | 1 | 1 |
Hechinger Investment Co. v. Fleet Retail Finance Groupgreen1 sentence2014Co. of Del., 274 B.R. 71, 89 (D.Del.2002) ("At the moment a corporation becomes insolvent, however, the insolvency triggers fiduciary duties for directors for the benefit of creditors."). 6 . | 1 | 1 |
Angelo, Gordon & Co. v. Allied Riser Communications Corp.green1 sentence2006Where the assets of the company are insufficient to pay its debts, and the remaining equity is underwater, whatever re *206 mains of the company’s assets will be used to pay creditors, usually either by seniority of debt or on a pro rata basis among debtors of equal priority.”) (internal citations omitted); Angelo, Gordon & Co. v. Allied Riser Comm. Corp., 805 A.2d 221, 229 (Del.Ch.2002) ("Even where the law recognizes that the duties of directors encompass the interests of creditors, there is room for application of the business judgment rule.”); Geyer v. Ingersoll Publ’ns Co., 621 A.2d 784, | 1 | 1 |
Naudain Adair v. Newlingreen2 sentences1953See Small v. Collins, 6 Houst. 273 , 282, and discussion of that opinion in Adair v. Newlin, 11 Del.Ch. 242, 246-247 , 100 A. 792 . 4 . 1953See Small v. Collins, 6 Houst. 273 , 282, and discussion of that opinion in Adair v. Newlin, 11 Del.Ch. 242, 246-247 , 100 A. 792 . 4 . | 1 | 1 |
| Case | Negative | Cited |
|---|---|---|
| No negative-treatment citations attached to this issue in Delaware. Read the followed side critically anyway. | ||
| Case | Cited | Years |
|---|---|---|
Mills v. Tiffany's, Inc.
green
1 sentence2022Mills, 198 A. at 189 . 138 Candor, 257 Ill. | 1 | 2022–2022 |
Candor v. Mercer County State Bank
green
1 sentence2022Mills, 198 A. at 189 . 138 Candor, 257 Ill. | 1 | 2022–2022 |
Travellers International AG v. Trans World Airlines, Inc.
green
1 sentence2015Instead, it is appropriate to adjust items on the balance sheet that are shown at a higher or lower value than their going concern value and to examine whether assets of a company that are not found on its balance sheet should be included in its fair value.”), affd, 2003 WL 1551287 (3d Cir. Mar. 25, 2003); Travellers Int’l AG v. Trans World Airlines, Inc. (In re Trans World Airlines, Inc.), 180 B.R. 389 , 405 n.22 (Bankr.D.Del.1994) (describing the balance sheet test as a misnomer for purposes of solvency under the Bankruptcy Code), rev’d in part on other grounds, 203 B.R. 890 (D.Del.1996), re | 1 | 2015–2015 |
Trans World Airlines, Inc. v. Travellers International AG. (In Re Trans World Airlines, Inc.)
green
1 sentence2015Instead, it is appropriate to adjust items on the balance sheet that are shown at a higher or lower value than their going concern value and to examine whether assets of a company that are not found on its balance sheet should be included in its fair value.”), affd, 2003 WL 1551287 (3d Cir. Mar. 25, 2003); Travellers Int’l AG v. Trans World Airlines, Inc. (In re Trans World Airlines, Inc.), 180 B.R. 389 , 405 n.22 (Bankr.D.Del.1994) (describing the balance sheet test as a misnomer for purposes of solvency under the Bankruptcy Code), rev’d in part on other grounds, 203 B.R. 890 (D.Del.1996), re | 1 | 2015–2015 |
In Re Trans World Airlines, Incorporated
green
1 sentence2015Instead, it is appropriate to adjust items on the balance sheet that are shown at a higher or lower value than their going concern value and to examine whether assets of a company that are not found on its balance sheet should be included in its fair value.”), affd, 2003 WL 1551287 (3d Cir. Mar. 25, 2003); Travellers Int’l AG v. Trans World Airlines, Inc. (In re Trans World Airlines, Inc.), 180 B.R. 389 , 405 n.22 (Bankr.D.Del.1994) (describing the balance sheet test as a misnomer for purposes of solvency under the Bankruptcy Code), rev’d in part on other grounds, 203 B.R. 890 (D.Del.1996), re | 1 | 2015–2015 |
Travellers International AG v. Trans World Airlines, Inc. (In Re Trans World Airlines, Inc.)
green
1 sentence2015Instead, it is appropriate to adjust items on the balance sheet that are shown at a higher or lower value than their going concern value and to examine whether assets of a company that are not found on its balance sheet should be included in its fair value.”), affd, 2003 WL 1551287 (3d Cir. Mar. 25, 2003); Travellers Int’l AG v. Trans World Airlines, Inc. (In re Trans World Airlines, Inc.), 180 B.R. 389 , 405 n.22 (Bankr.D.Del.1994) (describing the balance sheet test as a misnomer for purposes of solvency under the Bankruptcy Code), rev’d in part on other grounds, 203 B.R. 890 (D.Del.1996), re | 1 | 2015–2015 |
Golden v. City of Gulfport
green
1 sentence2015Instead, it is appropriate to adjust items on the balance sheet that are shown at a higher or lower value than their going concern value and to examine whether assets of a company that are not found on its balance sheet should be included in its fair value.”), affd, 2003 WL 1551287 (3d Cir. Mar. 25, 2003); Travellers Int’l AG v. Trans World Airlines, Inc. (In re Trans World Airlines, Inc.), 180 B.R. 389 , 405 n.22 (Bankr.D.Del.1994) (describing the balance sheet test as a misnomer for purposes of solvency under the Bankruptcy Code), rev’d in part on other grounds, 203 B.R. 890 (D.Del.1996), re | 1 | 2015–2015 |
Travellers International AG v. Trans World Airlines, Inc.
green
1 sentence2015Instead, it is appropriate to adjust items on the balance sheet that are shown at a higher or lower value than their going concern value and to examine whether assets of a company that are not found on its balance sheet should be included in its fair value.”), affd, 2003 WL 1551287 (3d Cir. Mar. 25, 2003); Travellers Int’l AG v. Trans World Airlines, Inc. (In re Trans World Airlines, Inc.), 180 B.R. 389 , 405 n.22 (Bankr.D.Del.1994) (describing the balance sheet test as a misnomer for purposes of solvency under the Bankruptcy Code), rev’d in part on other grounds, 203 B.R. 890 (D.Del.1996), re | 1 | 2015–2015 |
Amussen v. Quaker City Corp.
green
1 sentence1992Mr. Ingersoll also relies on Asmussen v. Quaker City Corp., Del.Ch., 156 A. 180 (1931), in arguing that the institution of statutory proceedings are necessary for the insolvency exception to apply and cause directors to owe creditors fiduciary duties. | 1 | 1992–1992 |
Seaboard Mut. Casualty Co. v. Profit
green
2 sentences1946Harr. (36 Del.) 47, 171 A. 210 ) : “* * * The effect of the provision of the policy is to give to a person who has sustained damages a cause of action against an insurer for the same relief that would be due to a solvent principal or insured person who is seeking indemnity and reimbursement from the insurance company after a judgment against him had been satisfied. * * *” In the Profit case, Judge Soper referred to the position of an injured party, seeking to recover against an insurance company under an insolvency clause as follows ( 108 F. 2d 597, 598 , 126 A.L.R. 1105 ) : “In considering th 1946Harr. (36 Del.) 47, 171 A. 210 ) : “* * * The effect of the provision of the policy is to give to a person who has sustained damages a cause of action against an insurer for the same relief that would be due to a solvent principal or insured person who is seeking indemnity and reimbursement from the insurance company after a judgment against him had been satisfied. * * *” In the Profit case, Judge Soper referred to the position of an injured party, seeking to recover against an insurance company under an insolvency clause as follows ( 108 F. 2d 597, 598 , 126 A.L.R. 1105 ) : “In considering th | 1 | 1946–1946 |
State v. Surety Corp. of America
green
1 sentence1946In State v. Surety Corporation of America, (1932) 19 Del. | 1 | 1946–1946 |
Counted by distinct opinions that both name this issue and are annotated to the section; sections every opinion cites regardless of issue are not filtered here, so read the counts against the total above.
Opinions by the citing court's state. A doctrine retained in one state and abandoned in another shows up here as a year span that stalls.