Delaware Governor Proposes Expansion of Court of Chancery From Five to Seven Judges
Delaware Governor Proposes Expansion of Court of Chancery From Five to Seven Judges
On January 25, 2018, Delaware’s Governor, John Carney, proposed a budget for the 2019 fiscal year, which includes funding to add two new vice-chancellors to the Delaware Court of Chancery.
The bench expansion comes on the heels of a plea from Delaware’s Chief Justice Leo E. Strine, Jr. as a result of a substantial increase in workload and cases in the Court of Chancery, which has seen a 64% increase in filings over the past decade. Over the same period, the page count for filings has increased by 113%, with motions to expedite increasing in frequency by 148%.
The Court of Chancery last added a judge to the bench in 1989, following an increase in litigation related to corporate takeovers. According to the state’s Administrative Office of the Courts, the proposal would cost almost $1.2 million per year, with nearly $700,000 coming from the state’s General Fund and the rest coming from fines and fees used to pay for operating costs.
The measure will be considered by the Delaware General Assembly, which must approve it before it may take effect.
About James Madison Kim
James M. Kim is a law clerk in Faruqi & Faruqi, LLP’s New York office and focuses his practice on securities and shareholder litigation. Please feel free to contact James if you have any questions regarding this blog post or F&F’s securities litigation practice at jkim@faruqilaw.com.
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