Delaware Supreme Court Mulls Appeal of Forced Company Sale - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Delaware Supreme Court Mulls Appeal of Forced Company Sale

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DOVER, Del. (AP) - The Delaware Supreme Court is mulling a challenge to the court-ordered sale of a successful New York-based translation company after a judge concluded that the relationship between the company's two co-founders and sole directors had devolved into "complete dysfunction."
The justices heard arguments at a contentious hearing Wednesday over a Chancery Court judge's 2015 ruling ordering the sale of TransPerfect Global Inc.
The judge concluded that feuding co-founders Philip Shawe and Elizabeth Elting were hopelessly deadlocked over significant matters, causing the business to suffer and threatening harm, despite its profitability, to the company, its customers and thousands of employees.
Shawe challenged the ruling, saying the judge abused his discretion, exceeded his authority, and should have considered less drastic alternatives before granting Elting's petition for a custodian to oversee a sale.

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