ANALYSIS: Turbulent Era in Delaware Ends With Chancery Ailing

Last Friday, the Delaware Supreme Court closed the book on one of the most tumultuous eras in Delaware corporate law, and potentially ushered in another. In just 37 pages, the state’s high court upheld the polarizing set of amendments known as SB 21, and in doing so arguably took a precarious step by blurring legislative and judicial lines.

The ruling, whose outcome was premised on at least one question of whether the amendments impinged on the Court of Chancery’s constitutional jurisdiction to award equitable relief, was seen by proponents as an incentive for keeping companies in Delaware and by ...