February 13, 2008 13:49 Age: 6 yrs

Emory Law Hosts M&A Workshop on Delaware Law

Emory Law’s Center for Transactional Law and Practice will hold its final Mergers and Acquisitions Workshop of the semester, Friday, Feb. 22, at the school’s Gambrell Hall. The program – “Is Delaware Law Still Superior for M&A?: A Debate” – will feature The Honorable William B. Chandler III of the Delaware Court of Chancery and Emory Law Professor William J. Carney. The program is scheduled from 8 – 9:30 a.m., with a continental breakfast beginning at 7:30 a.m.

The workshop is open to the public, and 1.5 hours of CLE credit is available to workshop attendees. Because of generous support from Houlihan Lokey, there is no fee to attend.

A summary of the program topic is as follows:

In their paper, “The Mystery of Delaware Law’s Continuing Success,” Emory professors Carney and George Shepherd argue that Delaware’s General Corporation Law has declined over the past quarter century. The professors state that since the 1980s, Delaware law has become increasingly complex and uncertain, due largely to judicial decisions that appear to tailor doctrines to produce fairness in individual cases, at the expense of certainty in planning and executing transactions. The result has been a variety of mini-rules that require firms and their lawyers to structure transactions formalistically to avoid the most intrusive forms of judicial review. These rules have led to a litigation explosion in Delaware, with the associated high litigation costs. Chancellor Chandler will defend the quality of Delaware’s law in this debate. He argues that the approach of the Delaware judiciary evidences a careful attempt to do justice in each case, and that no other state’s judicial system can offer the highly specialized judicial expertise, in an equity setting that is free of jury trials and delays.

This program is the last in a series of four workshops which included presentations from M&A professionals on topics such as shareholder activism, private equity deals, and ethics and professionalism.

To RSVP for the Feb. 22 workshop, please visit www.law.emory.edu/rsvp or call 404.727.6696. For more information, contact Edna Patterson at 404.727.6506 or erpatte(at)emory.edu.

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