Klang v. Smith's Food & Drug Centers, Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• explaining that, in determining a claim based upon a section of the Delaware General Corporation Law (Del.Code Ann., tit. 8
• noting that balance sheet showed negative net worth, which prevented distribution of cash via self-tender prior to revaluation of assets
• noting that absent bad faith, unreliable methods or data, or actual or constructive fraud, a trial court will defer to a corporate board's measurement of surplus
• “Allowing corporations to revalue assets and liabilities to reflect current realities complies with the statue and serves well the policies behind the statute.”
• affirming finding that the source of funds was adequately disclosed
• stating “purpose behind Section 160”

Source: CourtListener parenthetical corpus (CC0).