Delaware Court of Chancery Arbitration Provides Option for Delaware Parties to Resolve Disputes with Foreign Counterparties
The Delaware Court of Chancery recently adopted rules governing confidential arbitration proceedings of business and technology disputes. The Court designed its arbitration process to be more efficient and less expensive than other alternatives, while at the same time allowing its judges and masters experienced at resolving complex disputes to grant any relief deemed just and equitable. A potentially significant effect is that the new rules would provide litigants access to the expertise of Court of Chancery judges, while alleviating concerns with respect to the enforceability of a judgment awarded by a Delaware Court against a foreign buyer to an M&A transaction, including, in particular, a time-critical injunctive order requiring the buyer to proceed to closing on the closing date.