Gotham partners dating
The purchase price of an odd lot was putatively set at the five-day market average referenced in Section 9.01(b) of the Partnership Agreement. Ch.), at *16, aff'd in part and rev'd in part on other grounds, 611 A.2d 467 (Del.1992).56. No valuation information was shared with the board. The accompanying press release indicated that the Partnership would resell any tendered odd lot units to HGI, affiliates of HGI, or other institutional investors. Ch.), at *1 (granting an award of prejudgment interest at ten percent compounded monthly), aff'd, 781 A.2d 695 (Del.2001).55. Fischer, of Potter Anderson & Corroon, LLP, for Appellees/Cross-Appellants. Ch.), at *29-*30 (stating that “equity must try to right the wrongs with adequate remedies” and awarding a declaratory judgment and money damages for a breach of a contractually created fiduciary duty).72. Jur.2d Contracts § 727 (1991) (quoted in Massachusetts Indem. The Court of Chancery refused to order rescission and awarded damages. Gotham was aware of the Odd Lot Offer and Resale but did not complain to the Partnership until January 1997 when it requested access to the Partnership's books and records. Preliminary Proceedings in the Court of Chancery Gotham filed a books and records action in the Court of Chancery in February 1997. Trans World Airlines, Inc., 540 A.2d 403, 410 (Del.1988) (noting that “Delaware courts have traditionally disfavored the practice of compounding interest”).52.
Thus, HGI increased its stake in the outstanding Partnership units from 11.4 percent to 29.7 percent and solidified its control over the Partnership.
Before VEASEY, Chief Justice, WALSH, HOLLAND, and BERGER, Justices, and HARTNETT, Justice (Retired),** constituting the Court en Banc. Mc Nally, of Morris, James, Hitchens & Williams LLP, Wilmington, DE; Philip H. With respect to remedies for that breach, the plaintiff limited partner had demanded rescission or an adequate damage award and sterilization of the voting rights attached to the partnership units involved in the challenged transaction.