Article: The Stockman Decision: An Expansion Of Indemnification And Advancement Rights In Limited Partnerships.(David Stockman)(Case overview)

Article by Michael Horowitz , April Oliver and A. Joseph Jay, III 1

Originally published August 3, 2009

As the economic collapse spawns a wave of complex white collar prosecutions, and as the volume of documents in such cases grows exponentially, an executive's ability to defend himself or herself adequately requires substantial financial resources. In most cases, the right of officers and directors to indemnification and advancement of attorney's fees is critical to their ability to avoid financial ruin while mounting a sufficient defense. In a key decision rendered on July 14, 2009, the Delaware Chancery Court expanded and clarified ...

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