Delaware Chancery Court
Judge Vice Chancellor Leo Strine, a prominent figure in corporate law, recently was asked to rule on a petition for fees for lawyers who represented a minority shareholder in litigation involving fallen mogul Conrad Black’s Hollinger International. Per the WSJ:
“I feel queasy a lot of the times when I examine applications for attorneys’ fees,” the judge told lawyers in court. “But I have to get right in there, take my Maalox, ignore the vile smell.”
All of which was by way of paying a left-handed compliment to the fee petition before him, which by contrast in Strine’s view had the earmarks of legitimacy. (It was filed by minority shareholder Tweedy Browne Co. and its lawyers, Kirby McInerney & Squire and Bouchard, Margules & Friedlander).
The current case, he added, is different. It “isn’t even close to having an aroma that makes me queasy.”
(Elena Cherney, “When Investors Help Find Fraud, What’s It Worth?”, Wall Street Journal, Mar. 17)(sub).