Trenwick America Litigation Trust v. Ernst & Young, L.L.P.

How courts have described this case

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

• holding that Delaware does not recognize an independent cause of action for deepening insolvency
• holding that a parent corporation had the right to cause its subsidiary to incur debts to support the parent's business because \[w]holly-owned subsidiary corporations are expected to operate for the benefit of their parent corporations; that is why they are created\
• explaining that “statements of expectation or opinion about the future of the company and the hoped for results of business strategies” are “generally not actionable” for fraud claims under Delaware law
• “They are simply statements of expectation or opinion about the future of the company and the hoped for results of business strategies. Such opinions and predictions are generally not actionable under Delaware law.”
• “They are simply statements of expectation or opinion about the future of the company and the hoped for results of business strategies. Such opinions and predictions are generally not actionable under Delaware law.”
• “Wholly-owned subsidiary corporations are expected to operate for the benefit of their parent corporations; that is why they are created. Parent corporations do not owe such subsidiaries fiduciary duties. That is established Delaware law.”

Source: CourtListener parenthetical corpus (CC0).